A sole proprietorship is an unincorporated business mode that can be conducted and controlled by one single person or entrepreneur. It is not a legal entity and runs under the owner's name, however it can alternatively function under a fictitious name. Due to its ability to let one individual starting their own private firm, a sole tradership or sole proprietorship is a widely popular business structure in India. It's a well-liked industry that is ideal for start-up companies working in unorganised markets.
A proprietorship company entity is fairly easy to set up and has minimal operating and regulatory compliance obligations. The method does not, however, give the promoter a number of advantages that are desired in other enterprises, such as limited liability proprietorship, corporation status, distinct legal entity, independent existence, transferability, and perpetual existence. This is appropriate for microbusinesses with a limited life span and/or plans to remain small.
A sole proprietorship has many benefits, including being generally more affordable and easier to set up than a partnership or corporation, having fewer government rules and regulations, and having complete control over all aspects of running the business, including production, sales, finances, and personal matters. Additionally, there is no legal separation between the owner and the company; as a result, the owner receives 100% of the earnings, but the properties are each required to make a single tax payment.
You can rely on Sujata Associates to give you one of the finest registration services. We have the greatest specialists that will guide you through the procedure step by step. Our clients are our primary concern, which is why we have great agents that are professionals, work closely with the government, and thoroughly verify everything to ensure that there are no problems. Even during the Covid-19 Pandemic, our chartered accountants and attorneys worked hard to ensure that your registration went smoothly.
Sujata Associates is the market leader in company registration services in India, offering a variety of company registration like private limited company registration, one person company registration, Nidhi Company Registration, Section 8 Company Registration, Producer Company Registration, and Indian Subsidiary registration.
The average time taken to complete a proprietorship company registration is 3 – 5 working days, subject to government processing time, and client document submission. Get a free consultation for proprietorship company registration and business setup in India by scheduling an appointment with a Sujata Associates Advisor.
