Avoid these most common mistakes while Sole Proprietorship Registration
Sole Proprietorship Registration in India
"Being your boss" is not just the phrase these days and rather most preferred by young entrepreneurs and start-ups. Many people are starting their own business now a day, especially in the form of sole-proprietorship. This structure is preferred because of its following features:
Every year enormous amounts are invested in the economy to start-up the different ventures. However, several handfuls of mistakes these new entrepreneurs make due to lack of proper guidance and sufficient knowledge. The proprietor needs to be cautious all the time (from start to end) as the small mistake can turn massive investment, and all the efforts go waste.
Few are the general mistakes made by the sole owner in his proprietorship:
Registration of this business is not necessary; however, to receive the payment in the name of a business, one shall open a current account for which registration certificate is needed. Sole-proprietor can be registered in any form in India, such as:
Advantages of sole proprietorship registration as follows:
Apart from various benefits of sole-proprietorship, there remain several disadvantages too, such as:
Our team of experts would assist you as well as advise you on the type of legal structure that best suits your requirement. The average processing time to complete Sole proprietorship registration Online is 3-5 days vary as per the government of concerned state and client's documentation. Our team of experts provides a wide variety of services such as registration, advisory, compliances, etc. of various legal structures other than sole-proprietorship such as Private Company, Public Company, OPC, Partnership, Section 8 Companies, and Producer Company.
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