Sole trader

Meaning

A sole trader is a person who runs a sole proprietorship, a type of business with one owner. There are pros and cons to being a sole trader.

Key points

• Sole trader appears frequently in invoicing, payment handling, and bookkeeping workflows.
• The term improves clarity between clients, suppliers, and accounting teams.
• Consistent use supports cleaner documentation and better reporting quality.

Practical use

In Nexbal workflows, sole trader is used to keep invoice and payment operations structured and auditable.