There are 3.3 million sole traders in the UK, accounting for more than 60% of all private business. We (The Guardian ) look at the pros and cons of becoming one.
Chasing invoices, juggling family life and dealing with clients who expect the world for a pittance – all these are part of the daily grind for a sole trader.
Sole traders are business owners who are entitled to all their profits after tax but are also liable for any losses – and they’re well and truly on the march.
According to the government’s business population estimates, there are now 3.3 million sole traders in the UK, accounting for more than 60% of all private business. This is an increase of 50,000 on 2014, and a rise of 568,000 since 2010.
But while being your own boss might be a dream for many, it is not without its considerable challenges
Full story at The Guardian