A lot of us want to set up a business. A business that will bring to them good profits, but to set up a successful business except from the benefits or services you will be provide, you must chose what type of business organization is the best for you. There are plenty types of organizations that you can chose, let see some of these types below.

Sole trade

Sole trade is a type of business that anybody can set up very easy. Sole trade organization has only one owner. This business can trade under the owner name or under the business name for example Chris Brown or Fish Center but the owner must be careful because the name of the business must not be register already by another business because if its register may be have problem with them. On the other hand there are some other registrations words like “Royal”, “Authority”, “International” you can not use them if you haven’t got proper entitlement. The owner name must appear on the business stationery. As all the business sole trade have advantages and disadvantages.
The advantages are that is very simple to set up this kind of business because of the reason we say before and there are not any legal fees in sole trade. Also you need much fewer regulations concerning accounts. The owner is free to take any decision he want alone and he don’t need to ask nobody else like other organization which are more than one owners. At last the biggest advantage is that the owner can enjoy all the profit of the business for himself.
The disadvantages of this kind of business are more than the advantages. Firstly the owner may have limited funds and its more difficult to borrow some money because its only one person and when the money borrowed the owner need to name a personal property as security for the loan. Usually because the skilled employees are expensive the owner must rely upon his expertise. Also a lot of times