In a business structure, which of these refers to a sole trader?

The term "sole trader" specifically refers to a business model where an individual owns and operates the business on their own. This structure allows the owner complete control over their business operations, decision-making, and profits. As a sole trader, the individual is personally responsible for all aspects of the business, including debts and liabilities, but enjoys all the profits generated by the business.

This concept contrasts with the other options provided. A business owned by a group implies multiple owners or partners, which does not fit the definition of a sole trader. A corporate entity owned by shareholders indicates a separate legal structure that limits personal liability, which also diverges from the sole proprietorship model. Lastly, a business affiliated with a parent company suggests a relationship within a larger corporate framework, further distinguishing it from the independent nature of a sole trader. Thus, the definition of a sole trader aligns perfectly with the characteristics outlined in the correct choice.