Appropriate Legal Structure
Pros and Cons of Sole Trader/Partnership
Being a sole trader means you own your business.The pros of a sole trader include making your decisions, work long hours and keep the profit. However all the responsibilities of your own business is on you and even though working long hours can be a good thing, it can also be a problem. You also have unlimited liability which means you could loose all your personal possessions if you get into too much debt.
Having a partnership mean that you work with 2-20 people to run a business
You make decisions together so you're not on your own, you do not have to work long hours and you can share each others experience which makes it easier.