Advantages of a sole trader
Control over your business
As a sole trader you take control over your business making decisions quickly with financial and general business decisions
You can offer a more personal approach to your customers with a better understanding of the needs of your customers, allowing you to give a better service and more personal attention.
You can brand your business offering a USP (unique selling proposition) that make your customers more responsive to employing you for their work.
Sole traders have the freedom to work flexible hours that can produce more work and income.
All the money goes directly to you.
These are just some of the ways that a sole trader can take advantage of to produce more work and a better service.
How do you start as a sole trader
Once you know what services you are going to offer you simply register with the tax office that on a given date you will be your own boss. Notify your bank talk to an advisor and get as much information as possible about owning your own business. Prior to registration you will need to think about who your customers will be and how are you going to attract them. Do some research to finding work within your industry
Having certain procedures in place before registration will help you in your success as a sole trader and small business owner.
How you can offer a better service
Will be important in your future to growing and maintaining a prosperous business venture.
Check out some competitors what do they offer and how can you differentiate your business from theirs that will offer more benefits to the customer.
A business that can offer all the services with more benefits to the customer will increase your competitive edge in securing more financial rewards for you and your business. (more…)