Types of for-profit (commercial) organizations

IB Business Management: Types of for-profit (commercial) organizations

This section of the IB Business Management syllabus covers the following types of for-profit (commercial) organizations:A sole trader (also known as a sole proprietor) is a commercial for-profit business owned by a single person. Although this person can employ as many people as needed, the sole trader is the only owner of the business.The advantages of setting up a business as a sole trader (or sole proprietor) as a...

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