A LOCAL ENTERPRISE

I did my business cba on my fathers business which is called PT Carpentry. My father is a sole trader

Sole trader = a sole trader is 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

ADVANTAGES OF SOLE TRADING

• You keep all the profit made yourself
• Start-up costs are low
• You are your own boss
• You control your own hours

DISADVANTAGES OF SOLE TRADING

• You’re taxed as a single person
• You have unlimited liability for debts as there’s no legal distinction between private and business assets
• Your capacity to raise capital is limited

INTERVIEW

THESE ARE THE QUESTIONS I ASKED HIM

• Do you prefer working for yourself or for a contractor ,and why ? He said he prefers working for himself as you choose what job u take , you get all profits yourself , your not trying to make money for someone else and you control your own hours and standards
• Do you make more money as a sole trader ? Depends on what contacts you have for your business and how many contracts you can take in a working year . So the market from year to year dictates your earning
• Why did you decide to become a sole trader ? It was due to the recession in 2008 as there was no job opportunities from main contractors
• When and why did you set up PT Carpentry ? 2012 because it was the only way to get back working full time . The government were pushing people to emigrate or set up your own business to get them off the social welfare during the recession
• How much did your machinery cost ? From 10,000 to 15,000 at the moment

The inputs/raw materials of this business are the wood,timber and metal etc.

The outputs/finished product would be a wardrobe,table or shed etc.

This is done by machines .some of these machines are the saws,plainers and drills

The reason I did my cba on this topic is because my father runs it and I want to know more about it