Sole Proprietor is a form of business entity. As such, you are required to set-up a sole proprietor business. Justify your answer by comparing with partnership business.

Framework of answer:

1^st paragraph

Introduction of your business. What is the nature of your business?

2^nd paragraph

Identify and explain all the characteristics of a sole trader business.

3^rd paragraph

Identify & explain all the advantages of operating a business as a sole trader

4th paragraph

Identify & explain all the disadvantages of operating a business as a sole trader

5^thparagraph

Identify & explain all the disadvantages of operating a business as a partnership