Sole Proprietorship Registration in India
Do you wish to start your business with extreme effortlessness of operation and with a format that supports operating locally ? Have you been scouting for an option even cheaper than One Person Company ? Don’t you worry we have the perfect answer to all of your worries right here—sole proprietorship. Since sole proprietorship allows extensive freedom to own, run, and manage the entire business, it is one of the most preferred forms of business by everyone. As most small businesses, traders and merchants do not attribute much value to aspects like limited liability and perpetual existence, they prefer this type of business entity.
However, sole proprietorship is considered to have much more risks than any other kind of business form as the liability of the business extends completely to the owner and his/her personal assets as well. This risk comes as the sole proprietorship is not considered a different or separate legal entity. However, this allows for the owner to grow the sole proprietorship to the fullest extent possible and then transform the business to public or private limited company so as to protect oneself from the risks of liability.
If you are trying to have your sole proprietorship registered then Startuppandits offers the best, comprehensive sole proprietorship registration in India.
Sole Proprietorship – What does It Mean to You?
Sole proprietorship is the kind of business that allows the owner freedom of business to completely own, operate and control all aspects of the business alone , as he/she deems to. This is a tailor-made option for small merchants and trader,s since aspects like perpetual existence and limited liability, corporate identity etc do not matter to them. Being the most local and simplest form of doing business, it is enjoys a many tax exemptions, no legal hard and fast compliance, and other benefits. Offering ease of doing business and extensive support for the owner in terms of flexibility of operation, entrepreneurs who want to start small and locally prefer this as the most beneficial type of business form for them.
Sole Proprietorship – The Basic Requirements
Choose Any Name: Since the business is not going to be registered under any government authority as a full-fledged business entity, you can choose any name that you prefer. As such, the owner is saved from the hard-work of finding a unique name. However, if you have any intentions of registering a trademark of your firm , you should then choose a unique name.
GSTIN and Current Account: If you wish to start your business as a sole proprietorship, you should then register the same with MSME , GSTIN and Current Account.
- Pan card of Proprietor
- Passport size photograph of Proprietor
- Address proof of the Proprietor
- Identity proof of the Proprietor
- Rent agreement and NOC
- Bank statement or canceled cheque
- Electricity bill of the property where you want to register a firm
- Pancard of Sole Proprietor
- ID Proof and Address Proof
- Rent agreement, NOC or Electricity Bill
- Passport Size Photo of Proprietor
- No minimum capital required
What You Get ?
- Shop Licence
- Establishment Licence
Advantages of Sole Proprietorship
Easier to Set Up
The biggest advantage of starting a business as Sole Proprietorship is that it is easier to organize. There is no need for attorney and consultant to draft and file required documents or for the Government to approve them. As compared to Partnership firm you can secure your business license in Sole Proprietorship.
Sole Claim on Business Profit
The sole owner of the business receives full profit earned from the business. He/she can invest his money, run the business and enjoy the profit.
A sole proprietor does not need to pay an unemployment tax from his or her self-employed income because he or she is not considered an employee of the company.
Benefits of Inherited Goodwill
The ownership of sole proprietorship can be passed from generation to generation.
A business of a Proprietor firm is very well managed by all the partners as they take interest in the daily affairs of business because of the ownership, profit, and control.
Benefits of Profit
Since all Proprietor are owners of the business, they can manage activities of their own. Profit is equally shared
Why Hire Us — The Best Sole Proprietorship Registration in India
Over the years’ of our experience as one of the most preferred companies offering sole proprietorship registration in India, we have understood how important running a business is to an entrepreneur. As such, we have always tried to come up with the best registration services for any type of business for them. Leveraging our experience and expertise of about a decade, we understand the demands and challenges of sole proprietorship registration in India and we have made our offerings suitable to these challenges.
As one of the most reliable and responsible names in the industry for sole proprietorship registration in India, we have associated with a plethora of clients from diverse business verticals and domain. We always are in constant hard work to ensure that our clients get the most affordable, top-quality and timely sole proprietorship registration in India. What makes us one of the best in the business is our ability to quickly understand the needs of the clients and work around the same to offer the most value-adding support to them. We also have a team that understands all the legalities, paperwork and other government conformities to carry out their registration requirements quickest possible way. As the team consists of extremely skilled, qualified and trained professionals in the field, no challenge is too great for us when it comes to sole proprietorship registration in India.