Proprietorship Business

Proprietorship Business

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Registration of your Proprietorship business

The Sole proprietorship is owned, managed and controlled by an individual. Proprietor is the only person who has control over the responsibility for running the business, arrangement of capital and management of the business.

No deed or agreement is required to register your business. Proprietor of the firm is entitled to bear all the profits and losses of the business. Liability of the Proprietor is unlimited.

Proprietorship Business

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Advantages of starting a Proprietorship business

Easy Formation

Sole proprietorship is the most popular form of business organisation due to the ease of formation. This helps to increase young entrepreneurs for the development of their business and startup ideas.

Inexpensive Management

The formalities are less and inexpensive in setting up sole proprietorship firms. The Sole Proprietorship does not appoint any specialist for various functions.

Decision Making Power

The power of Decision making will be in the hands of the proprietor. Since the business is managed by one person, the management becomes simple and easy.

Less Legal Compliances

The legal compliances under proprietorship is much lower than other form of business registrations.

Documents required for Registration of Proprietorship Firm

  • ID Proof

    Aadhar / Voter ID / Driving licence / Passport

  • Address Proof

    The Address proof of the members along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.

  • Photos

    The photos of the respective Directors , shareholders and designated authorities should submit for the clarification and proof of the concerned person.

  • PAN

    The PAN card of the respective Directors, shareholders and designated authorities of the company.

  • DSC

    Digital signature is the electronic signature format of the Directors / signatory authority for the purpose of e-filing the Register of Companies.

  • NOC (Owner/Landlord)

    No objection certificate by the owner / landlord must be enclosed.

Frequently Asked Questions

  • How many persons are required to start a proprietorship business?

    As the name suggests, only one person is required to start the sole proprietorship business.

  • What is the minimum capital requirement?

    There is no minimum capital requirement in sole proprietorship business.

  • What are the disadvantages of Sole Proprietorship?

    The liability of the proprietor is unlimited is one of the major disadvantages of a proprietorship concern.

  • Whether unregistered Proprietorship Firm can sue against third parties?

    No , registration is mandatory to sue to third party.

  • Whether the Registration of sole proprietorship is compulsory?

    No, registration is not compulsory but registration provide you legal rights.

  • Have queries?

    If you have any further queries, get our experts’ opinion. For free consultation Contact our Nsight to resolve all your queries.


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