What are the advantages of a sole trader?

Advantages of being a sole trader are that you're your own boss which means you can choose how long you work for. It's easy and doesn't cost much to set up. You get to keep all the profits and also decisions are made faster. Information about the business is kept private unlike limited companies which are made public by Companies House. Sole traders offer a more personal service which is appealing to potential customers in the area where the business is situated.
Disadvantages of being a sole trader are if you have time off you won't get paid for it because it's your business. This could lead to fewer profits and also in future could lead to lack of business. Unlimited liability is also a disadvantage. Unlimited liability means if your business fails you have to sell off your own assets for example their car or house to pay off the debts of their business. Sole traders may find it difficult to raise finance to fund their business which may lead to them struggling to expand in the future.
Im currently learning about the topic in school and this is what I learnt from textbooks and my teachers I hope it helped :)