Have a great idea but no one to share it with? Have a great idea but dont want to share it with anyone? There are several reasons for why people want to start up as a sole trader. There arent anyone you have to answer to and the paper work is significantly lighter. The list of benefits of going at it solo are many.

Most of the people who do freelance work are sole traders. They specialise in one area they enjoy and sell their services to others who arent as proficient as them or have other things to use their time for. This makes it the logical choice to start a business as a sole trader, unless you are having a lot of orders and keep a crew.

As a sole trader, you are your own boss, for better and for worse. Whatever you put into the business in form of efforts is what you will get out of it. So if you decide to start slacking off cause you dont have a boss hanging over you all through the day and keep you occupied. This means that everyone answers to you and you answer to yourself. So if you take up loans to finance your business, it will be at your own risk. If the business tanks, you may have to sell the house to pay of the debt, so be careful when you start up as a sole trader.

There are also different tax laws and things to take into account when you start on your own. As a sole trader, you will often do work for one client and you cannot be employed with them to be listed as a sole trader. These rules can be complicated, so it is best to contact the authorities in your country or experts on the topic for more indepth advice. Just take heed on the fact that these rules arent easy and can come back and haunt you if you are not careful.