14 Example 5(b) â Solution Because g (x) = log 2 x x is the inverse function of f (x) = 2, the graph of g is obtained by plotting the points (f (x), x) and connecting them with a smooth curve. The graph of g is a reflection of the graph of f in the line y = x, as shown in Figure 3.14. contâd Figure 3.14.
Legal liability and protection of personal assets are two areas where operating as a sole trader is a major disadvantage. In the event of a legal claim against the business, where insurance does not cover the full extent of any damages awarded, the owner's personal assets can be attacked to pay the damages.hen the business is being started part-time, while the owner continues in full-time employment, operating as a sole trader allows the owner to reduce tax payable on the employment income if losses are made. This tax reduction is subject to the business satisfying non-commercial business loss provisions.
'A s ole trader is a person who sets up and owns their own business. As a sole trader, your business is owned entirely by you, grown by you and ultimately succeeds or fails by you. This also means you are entitled to all profit that the business makes.Becoming a sole trader is simple. All you have to do is r egister your business name and you can start trading.he sole trader small print. 1  Remember, as a sole trader, your profits are taxed as income you must keep records showing your business income and expenses. 2  You have to pay fixed-rate Class 2 National Insurance Contributions (NICs) regardless of any profits you make.