Definition of sole trader in US English:

sole trader


  • A person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses; a sole proprietor.

    ‘I choose to run my firm as a sole trader’
    • ‘The clients themselves have preferred to contract, usually through an employment agency, with a service company rather than with an individual sole trader.’
    • ‘As soon as you start out as a sole trader you must register yourself as self-employed.’
    • ‘"I would advise someone to be a sole trader instead of setting up a company," he said.’
    • ‘If you are a sole trader or partnership, give your business name and address in case information is held under these details.’
    • ‘This mechanism cannot work if one of the businesses involved is a sole trader.’
    • ‘The former owner of the small firm that closed down had just started a new business, vowing never to be a sole trader again because it rather ruined her own lifestyle.’
    • ‘I am thinking of becoming a sole trader but all the information that I have been able to gather so far is very complicated to understand.’
    • ‘The agencies may themselves have tax liabilities if they incorrectly employ sole traders or partnerships.’
    • ‘Many firms, especially sole traders and partnerships, do not qualify for relief because of the complex rules that surround the tax credits.’
    • ‘Many business start as sole traders and form limited companies as they expand.’
    • ‘These independent artistic networks are composed of freelancers, the temporarily employed, sole traders, and micro-businesses.’