Amelie makes and sells soy candles at a local market and has started selling them online. She is a sole trader so she runs her own business as an individual and is self-employed.
Her business, ‘Candlelight’ is doing well and she is making a small profit. Amelie wants to take on staff and grow her business as she is only just keeping up with the orders. A friend of hers, Ishmael, recognises the potential of her business and offers her a substantial investment. In return for the money, he wants to be an equal partner in the business.
- If you were Amelie, what would you do?
- What are the advantages and disadvantages of being a sole trader?
- What other legal structures would Amelie need to consider if she took Ishmael up on his offer?
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