? A sole trader is owned by one person whereas a
private limited company is owned by shareholders
? A sole trader is run by an individual whereas a private
limited company is run by a managing director/board
of directors
? A sole trader makes the decisions in a business
whereas a managing director/board of
directors/shareholders make decisions in a private
limited company
? Sole traders have unlimited liability whereas private
limited companies have limited liability
? Both belong to the private sector of the economy
? Legal documents required on forming a private
limited company whereas a sole trader does not
require any formal paperwork
lydiajane74 answered the question on May 13, 2018 at 23:50
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