At Boothby Taylor, we have been supplying business insurance for over 15 years to businesses and individuals up and down the UK. In the past couple of years, we have noticed that a lot of business owners are becoming sole traders.
Between 2013 and 2014, over 300,000 people in the UK became a sole trader, which 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.
With so many people in the UK becoming a sole trader, we decided to create the go-to business guide for those who wish to follow the growing trend.
This infographic includes the essential 13 steps you must take in order to make it as a sole trader, with some facts about the business industry in the UK to accompany them.