Hi there,What are the requirements for setting up a Sole Trading business?and also what requirements for clossing down a sole trading business?Thanks.Sam
Hi Welcome to JustAnswer. My first response will follow shortly. Please feel free to follow up if anything is not clear
setting up a sole trading business is lightly regulated in New Zealand. If for example you want to open a shop, then there are no licences or other legal requirements except for some specific items such as selling liquor. If you are selling food you need to comply with local authority health requirements. But setting up the business itself does not require any licence or permit. Similarly when you want to close this down, you just need to pay the debts and notify your customers. There is no other formality required. If you cannot pay the debts, then you may be looking at personal insolvency, through the Official Assignee. The Official Assignee would then wind up the business.
What are 10 requirements for each?
Is this a question for an assignment or essay?
I think this may be a little outside of the scope of this site
Research which you do yourself is always better, but I will suggest you look at this website
And refr to the texts I am sure you have been given
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