sole trader

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A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity. A sole trader does not necessarily work 'alone'—it is possible for the sole trader to employ other people.The sole trader receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor and all debts of the business are the proprietor's. It is a "sole" proprietorship in contrast with partnerships (which have at least two owners).
A sole proprietor may use a trade name or business name other than their or its legal name. They may have to legally trademark their business name if it differs from their own legal name, the process varying depending upon country of residence.

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    QLD Sole Trader, Client Did not pay Car Hire

    Hi All, So I was a sole trader in Queensland over a year ago. At the time my client had arranged a car hire through their own agent. I have recently been approached by a collections agency on behalf of the hire company chasing me for full payment of the invoice and a cleaning fee. They are...
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    NSW Becoming part of an Employee Share Scheme in a UK company - as a NSW sole trader

    Hi there, I am working for a UK-based company as a self-employed sole trader living in NSW. The UK-based company is putting in place a Share Option Plan that they want me to be a part of. For the UK resident that work for the company, this will be constructed as an Enterprise Management...
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    WA Termination clause of contract - Do "Group members" include sole trader/company?

    In a supply/distributor agreement with a manufacturer the following termination clause is included - The distributor represents and warrants that neither it not any of its group members (if any) is insolvent or is deemed or presumed insolvent under any applicable law.... The agreement is...
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    VIC Owning my own business while working full time?

    Hi all, Hoping to get some help on a question I have about a term in my employment contract. I have signed an employment contract which is due to start early next year, and one term states: "during your employment with the Company you must not, without first obtaining the Company’s prior...
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    NSW gst & tax related issue with ex being a sole trader & unpaid tax & Gst for 4 years

    Writing this on behalf of sister, Husband as been sole trader & has not paid individual tax or gst for four years. She was not part of this sole trader business ,has only become aware of this just after separation approx 80K ++ tax & gst 40K whilst we can understand that she has had the...
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    WA a false google my business review

    i am a semi retired person in the computer repair business I have a great, flawless reputation with 100% 5 star reviews going back over a very long time i had someone show up at end of day on a weekend asking me to fit a battery they provided. I said ok. They did not bring a power cord because...
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    NSW Starting Online Business as Sole Trader - Risks of Personal Assets

    I am planning to start an online business selling products to customers. I have decided to operate as a "Sole Trader" for the start. In the website, I went through the "Key Aspects of being a Sole Trader" and came across this sentence: Has unlimited liability - all your personal...
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    NSW Business Structure for Professional Services - Sole Trader, Partnership or Corporation?

    Which one is the best business structure for professional services firms, sole trader, partnership or corporation? The traditional way is a partnership, but is it no longer viable due to unlimited liability and no separation of legal entity? What are the pros and cons of these 3 types of...
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    VIC Questions to Set Up as Sole Trader?

    A colleague has some questions. He is setting up a sole trader business cleaning windows. 1. Can his business have a name such as "sparking windows" as opposed to his name? 2. He lives in a rental property whose lease is in his partner's name. The lease states no businesses can operate from...
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    VIC Food Delivery Service as a Sole Trader - Commercial Law Regulations?

    Hi everyone. I am planning to start an online food delivery service (like UberEats) as a sole trader to deliver homemade food (sourcing from independent home-based kitchens - not us) to customers. Basically a website where: Customers: Select their food from the menu, order it to get it...