Proprietorship is also known as sole proprietorship. It is the easiest and most straight - forward type of business to form. Sole proprietorships are owned and run by only one person and there is no legal distinction between the business and the owner. Now a day, many businesses start up as sole proprietorships. It is oldest, most universal and elementary way to set up business. What differentiates a sole proprietorship from a limited liability company or corporation is that the business owner cannot be separated from their business. The owner has “Sole ‘’ control over all aspects of the business .Get Proprietorship Firm Registration within 3 - 4 days.
ADVANTAGES OF SOLE PROPRIETORSHIP
- Easy to start.
- As compared to ‘Company Registration’ sole proprietorship is inexpensive.
- Auditing not required.
- Less amount of tax rate.
- Minimum time for registration
Here we will assist you with simple and easy guidelines which are given below to start a sole proprietorship.
- Decide a ‘Name Of Your Business’.
- Register your ‘Business Name’.
- Secure the necessary documents.
- Prepare business plan that outlines your goals.
- Maintain financial records.
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