As the name suggests, a sole trader is a business owned and runs by
one person, although it is quite likely that others will b
GREENWAY’S TYPE OF OWNERSHIP
As the name suggests, a sole trader is a business owned and runs by
one person, although it is quite likely that others will be employed
to assist the day-to-day business.
Our development will be in two parts. The first part will be about the
advantages and the second part about the
disadvantages.
After working for a local firm in Manchester and saving some money
during ten years, Tom decided to set up his own business and this is
how GREENWAY’S ESTATE AGENTS was born. In fact a sole trader business
is very easy to set up because there are no formal procedures to
follow to open a shop and that means there is not lot of paperwork
involve in this type of ownership. GREENWAY’S ESTATE AGENTS is a
service base business, and among those services the main activities
are the renting (mainly for the students) and the selling of houses.
In fact one the main advantages of GREENWAY’S ESTATE AGENTS is the
good personal service that Tom gives to his customers. For instance if
someone wants to buy, sell or rent a house, and he phones and makes an
appointment with GREENWAY’S ESTATE AGENTS, Tom himself goes to the
customer to discuss about the terms of the contract and sometimes he
guides the customer who needs some help about the mortgages or the
solicitors and many more. The flexibility of GREENWAY’S ESTATE AGENTS
is the other advantage for the business because only one person owns
the business and the decisions can be taken quickly and flexibly
without consulting anyone because he is his own boss and does not take
orders from anybody. This very important in some business activities
such as GREENWAY’S ESTATE AGENTS where the customer demands change
quickly or where each customer’s requirements are different, so
different that they need to have a lot of abilities to the customers.
In fact his skills, his good personality, his knowledge of the area,
his good reputation, his small scale and the recommendation from
everybody make of Tom the right man to run GREENWAY’S ESTATE AGENT.
The small scale and the location of his shop cope to Tom who does not
have to spend a lot of money in the renting and also in the
advertising because his shop is on the main road, fairly central to
the other shops, so people walked past it all the time.
However, a business can not only have advantage.