Brand Deals, Sponsorship & Business
Sole trader
Also called: sole proprietorship, sole prop, self-employed
In the UK you become one by telling HMRC you are trading and filing a Self Assessment return each year. No incorporation, no accounts at Companies House, no separate legal entity. The United States equivalent is a sole proprietorship.
Unlimited liability is the catch. Business debts, a contract dispute or a claim over something you published all land on you personally, because there is no company to absorb any of it. Most creators move to a limited company once the income makes the tax treatment worth the admin, or once a brand contract makes that exposure look uncomfortable.