PROPRIETORSHIP FIRM

A sole proprietorship is a type of unregistered business entity that is owned, managed and controlled by one person. Sole proprietorships are one of the most common forms of business in India, used by most micro and small businesses operating in the unorganised sectors. Proprietorships are very easy to start and have very minimal regulatory compliance requirement for starting and operating. However, after the startup phase, proprietorships do not offer the promoter a host of benefits such as limited liability, corporate status, separate legal entity, independent existence, transferability, perpetual existence – which are desirable features for any business. Therefore, proprietorship … Continue reading PROPRIETORSHIP FIRM