The sole trader can trade under his or her name, or register a business name. However, registration of a business name does not make the sole trader a separate legal entity. The business belongs to the sole trader who personally responsible by law. Registration under a business name has no legal implications other than to allow that individual to use and trade under that name.
A distinguishing feature of the sole trader is the nature of any legal liability. While the sole trader retains the profits from the venture, the liabilities with regard to claims from creditors extend to personal assets. No distinction is made between business assets and personal assets
Want to learn more about your business structure for your art & Design?
Find out more.
It’s as simple as 1… 2… 3…
1. Like ArtSHINE’s Facebook page
2. Subscribe to our weekly newsletter
3. Discover ArtSHINE Coaching by taking our survey to receive a complimentary coaching session
Contact Vinh direct:
vinh@artshine.com.au , +61 410 636 138
To Find Out more a great cashflow business of your dream ?
If you enjoyed this post, please ‘like & share’ this page so someone else can benefit from it! PS: Cool Email Marketing tool for your business. Check it out!
Related Posts:
