+1 862 207 3288 1. Easy formation and closure.
2. Flexibility in management: Easy to change the product/services, policies and control
3. Extremely easy decision-making
4. High Motivation: Due to single ownership, all profits and growth of business are shared by one owner. He is, therefore, highly motivated to work for improvement and profit.
5. Full control of business activities.
6. Secrecy: Trade secrets are easy to maintain. There is no compulsion to publish the account.
7. Personal touch for excellence.
8. Simple and less complicated operation.
9. Indirect support for family employment: generally, the sole-trader firm is passed to the next generation in the family as there is no other stake-holder.
10. Liberal Government Support: Generally this type of business is cottage or small-scale industry. Government provides liberal loans for starting and running these businesses. Generally, the electricity and water rate is less for small and cottage industries.
11. Self-employment of individual is generated widely.
