Wat is the diffrence between sole trader & sole proprietor?

Question

In London we says sole trader as we'r studying as a same name but indian people say sole proprietor. I don't understand yet. y?

Answer 1

A sole proprietorship(sole trader) is the simplest form of business ownership. Not surprisingly, the vast majority of small businesses begin their existence as sole proprietorship. A sole proprietorship has but one owner. That sole owner may engage in any form of legal business activity any time and anywhere. Other than the various local and state business licenses that every business must purchase regardless of type of ownership, no legal formalities are required to start or operate the business. The owner is responsible for securing and investing the funds for the business. These funds may come from the owner's existing or borrowed financial resources.

sole proprietor
Unincorporated business owned and controlled by one person, ordinarily under a business name (doing business as) other than the owner's. Sole owners are treated as individual accounts, and may open interest bearing checking accounts, unlike corporations.

Answer 2

When setting out in business, you will probably be setting up on your own, using your own personal capital to get started. If this is the case you will be known as a Sole Trader.

The sole trader is the most simplest business to develop as it initially consists of only you (the one man band), and has very little legal formalities, obligations or constraints attached to this form ownership as opposed to other forms; in fact it is just a case of informing the tax inspector and contributions agency of your intentions and you can begin to trade. You also need only a small amount of capital and you're off!

http://www.businessbureau-uk.co.uk/new_business/sole_trader.htm
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Sole Proprietorship



The sole proprietorship is the oldest, most common, and simplest form of business organization. A sole proprietorship is a business entity owned and managed by one person. The sole proprietorship can be organized very informally, is not subject to much federal or state regulation, and is relatively simple to manage and control.



The prevalent characteristic of a sole proprietorship is that the owner is inseparable from the business. Because they are the same entity, the owner of a sole proprietorship has complete control over the business, its operations, and is financially and legally responsible for all debts and legal actions against the business. Another aspect of the "same entity" aspect is that taxes on a sole proprietorship are determined at the personal income tax rate of the owner. In other words, a sole proprietorship does not pay taxes separately from the owner.

http://www.sos.state.ia.us/business/sole.html

Answer 3

Sole Trader is one who trades alone and he/she can be an employee of a trading house.
Sole Proprietor is one who owns a company without any business partners.

Answer 4

Sole trader : A trader who is the only person trade a particular commodity. ( Example: trader of oil)

Sole proprietor: only one owner of a concern or shop. i.e ownership is single.

Answer 5

you are right ,
in Indian parlance, both terms have different meaning

sole trader hear in india is for that man who deales in the item for which he is viern rights for distribution of partcular item..

Sole proprietor means he is the owner of the shop or frim or factory.. no parnership

I do not know what does term mean in London

Answer 6

I really don't know