One disadvantage of sole traders is a lack of?

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Sole traders operate independently, which means they are solely responsible for all aspects of the business, including decision-making, problem-solving, and managing workloads. This structure can lead to significant pressure on the individual, especially in times of high demand or when faced with challenges. Without partners or a team to share responsibilities, the sole trader may find it difficult to balance the various facets of running a business effectively. This lack of support can also restrict the business's ability to grow or adapt quickly to market changes, as there are no additional insights or diverse perspectives to consider. Therefore, the lack of assistance in decision-making and workload management is a notable disadvantage of being a sole trader.

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