Citizens Information

When you start working for yourself, you are classed as ‘self-employed’ and a ‘sole trader’. A sole trader is when you set up a business on your own.

In general, you are a self-employed sole trader if you:

Run your own business and are responsible for its successes and failures
Have several customers
Regularly sell goods or services to make a profit
Are paid for the service you provide
Decide how, when and where you work

It is relatively easy to become a sole trader (see ‘How to become a sole trader’ below). However, if your business fails, your personal assets could be used to pay back your creditors (people or organisation your business owes money to).
Set up a business without becoming a ‘sole trader’

If you want to keep your personal assets and business assets separate, you can set up a ‘limited company’ instead. Read about the different types of business structures, including how to set up a business (or ‘partnership’) with other people.

If you are a non-EEA national, you can read about coming to set up a business or invest in Ireland.