A sole trader – also known as a sole proprietorship – is a simple business arrangement, in which one individual runs and owns the entire business
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To decrease any unnecessary expenditure this can be done by limiting the purchasing of gifts, or plane tickets for holidays , you could also limit electricity usage or switch to a cheaper provider
Time is considered to be a resource because it is one of the resources that is needed in starting a company or business of any kind along with natural resources, human resources etc.
Time is also considered to be the most limited resource.
Benefit-in-kind is given to employees by the companies they work for, to keep the employees happy, to make sure they keep working hard and have the necessary equipment to carry out their job. For example, an employee could receive a company car, or a teacher could get a laptop.