FEATURES OF SOLE TRADING CONCERN

Sole trading concern:

A sole trading business is owned and managed by one person,or in
some cases managed by his employees.It is also known to be the oldest form of
business organizations.

Few features of sole trading are as follows:

● One single person owns the complete business
● Business Operations are flexible to sole trader
● A sole trading doesn't hold any separate legal status
● Complete secrecy of the business is maintained by the sole trader
● Sole trader is considered to have unlimited liabilities as he his personal assets
can be used to clear debts on the firm
● On a sole trading firm there are very less government regulations
● The business is completely controlled by the sole trader
● A sole traders generally does not have to share profits or losses with anyone
● Usually a sole trading firm is restricted to a local area