Sole trader , often also referred to as self-employed, describes a business that is owned and controlled by one person.

Sole trader , often also referred to as self-employed, describes a business that is owned and controlled by one person.

The business may have several employees and consultants. Individuals providing a personal service quite often set up as a

or example, plumbers, electricians, builders, hairdressers, civil engineers, gardeners, photographers etc. Sole traders, owner of the business, are personally liable for the debts of their business and may be required to settle the debts of their business out of their own personal resources. Hence

may have an unlimited liability. There are ways of mitigating a

liability. We strongly advise that you seek professional assistance in this matter before setting up as a

.