If you are trading as a sole trader or thinking of starting a business as a sole trader, it has its advantages and disadvantages.
The advantages being a sole trader are; a total control over your earned profits ,personalised attitude towards your customers,
your business affairs are not exposed to the public and if your circumstances change, it is easy to switch to different business structure.
However, being a sole trader could be challenging to raise finance for the business and your personal assets are exposed, i.e. if your business
is in debt you could end up losing your personal assets.