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What are merits and demerits of sole trade

Posted by Thakur Harshita Singh 5 years, 2 months ago

CBSE > Class 11 > Business Studies

1 answers

Muskan Jindal 5 years, 2 months ago

Merits of sole trader are Quick and prompt decision can be taken by individual . It is easy to form . Effective control. Secrecy can be maintained. Direct contact with customers. Demerits of sole trader are Unlimited liability. Limited resources like capital. Limited managerial skills. Not suitable for large organisations.

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