Proprietorship Firm Registration
The Proprietorship Firm Registration is a registered company under the 2013.
Proprietorship Firm Registraction
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A sole proprietorship is a type of unregistered business unit that is owned, managed, and controlled by one person who retains the full authority & responsibility concerning the business. Sole proprietorships are one of the most common forms of business in India. It is easy and cost effective as well.
The legal responsibility for the obligations of the business lies with the proprietor. Thus, the proprietorship is not a distinct entity unto itself, rather business and its owner are clubbed together. In this type of Business, the person operating will only be the director and shareholder himself.
TYPES OF BUSINESS ACTIVITY
|The form of proprietorship business is preferably suited to businesses like retail, wholesale, where the nature of the business is simple, financial risk is less, no need to take enormous debts and the product market is small.|
|Low Capital Requirement|
|The Business with minimal capital requirements and little or almost no levels of risk are suitable for being run as sole proprietorships. Now, the proprietorship
business may require to register itself under tax laws such as GST registration.
ADVANTAGES OF SOLE PROPRIETORSHIP REGISTRACTION