Sole Trading
5. Control Over Your Business
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 23 Sep 2015
- One of the main incentives of operating as a sole trader is the amount of personal control you maintain over your day-to-day business dealings and business assets unlike other business structures such as:
- partnerships;
- companies; or
- trusts.
- As a sole trader you have complete control over business decisions such as:
- employment of staff;
- business planning; and
- business financing.
- This can appeal to individuals owning and operating a small to medium business as it supports faster and efficient decision-making and greater creative license over the business direction than if collaborating with others.
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