A type of business enterprise or proprietorship which is owned by one person who is fully liable for the company's debts and fulfilment of contracts with his/her personal wealth unless incorporated
An individual running a business All revenues and payments from the business are incorporated within the individual's personal financial and tax affairs
These are individuals running their own company, often using a trading style (T/A) They get all the profits, and also take all the losses which can include all personal assets
A sole trader is a person who owns their own business and does not have a partner or any shareholders. Finance for a sole trader usually comes from the individual's own savings or from family and friends