Are you a Solo-Entrepreneur? Are you running and managing your business all alone? It is right that you have chosen to register your firm as a Sole-Proprietorship. A Business which is managed by a Single Individual is known as a Sole-Proprietorship Firm. Are you Looking to start your Business with less Investment? Yes, Sole-Proprietorship firm has very less investment to start with and has less compliances to deal with.
Are you Planning to start your business from your residence today?
Are you Looking to start your business with minimum registration fee?
Do you want to run your business yourself?
Yes, Sole-Proprietorship is the right choice for you.
As a Solo-Proprietor you enjoy all the profits of your business and any losses incurred you will be the Sole handler of the Losses.
The Solo Entrepreneur or the Sole-Proprietor Invests his/her money in the business all alone.
Are you running a small shop, a boutique, a parlor, a grocery shop, a home kitchen, a retail store, a small consulting firm, a website-based firm you are right, you have to choose Sole-Proprietorship Firm which is good for your business and has a very limited compliances that you can concentrate on your Business only.
Who can start the Sole-Proprietorship Business?
Any Business which has a very less capital to start the firm or setup a shop to run the business or run the online based business can choose the Sole-Proprietorship Business.
What are the Advantages of Sole Proprietorship Business?
- Sole-Proprietorship Firm can be easily started with a minimum of 1 person only.
- There is very less expenses incurred to start the Sole-Proprietorship Business.
- Registration cost is comparatively low than the Private Limited Company or LLP Company.
- As a Single Person run business you can enjoy the complete fruit of the profits in the Business.
- All the decisions of your company can be taken by yourself, you do not need to depend on others for the decision making when it comes to the Sole-Proprietorship Company.
What are the Compliances to be followed by the Sole-Proprietor?
- You need to file the Income Tax Annually.
- You need to file the GST returns.
What are the Documents required for the Sole-Proprietorship Company Registration?
- Aadhaar Card.
- PAN Card.
- Registered Office proof.
|PROS OF THE PROPRIETORSHIP FIRM||CONS OF THE PROPRIETORSHIP FIRM|
|Easy to Setup the Business only with the PAN Card and Aadhaar Card||Unlimited Liability in the Sole-Proprietorship Firm. The Complete Losses of the Firm must be taken care by the Proprietor Only.|
|Less Compliance||As a Sole-Proprietor you cannot raise the funds or Investment for your Organization.|
|Enjoy the Full rights of the Profit||If the Sole-Proprietorship business dies, The Company or Business will be terminated.|
|One Person Decision making||Additional Insurance may cover for the Physical Injury or Physical Loss.|
|Less Taxation||Usually, a Pvt Ltd company is valued more than a Proprietorship business in the Society.|
Are you Looking to start a Sole-Proprietorship Firm?
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