A sole proprietorship is the most basic form of business registration in India. It is pretty easy to set up and requires minimal documentation. For a person who runs a small business or intends to enter into business, this category of business registration is well suited.
Running a sole proprietorship business is quite simple and generally does not have to face strict legal compliance as is the case with other categories of business registration. The framework is simple and so are the accountancy requirements. In this article, we will be covering all the relevant information that would educate you about the proper way to get your Sole Proprietorship Registration done.
Sole Proprietorship can also be registered as a sole proprietorship firm, it has its benefits that we will be discussing later in the article - Keep Reading
Here are some fabulous benefits that a business person enjoys while opting for a sole proprietorship.
On the flip side, the legal protection that other forms of business registration enjoy is absent in the case of a sole proprietorship. Here the business owner is liable legally for any misadventures that might occur during the regular course of business.
Getting a business loan is also slightly difficult for a sole proprietorship business. However, there is always an option of getting your sole proprietorship converted into a sole proprietorship firm for added benefits.
The biggest drawback of a sole proprietorship firm becomes evident when you plan for scaling up the business. Raising funds is a bit difficult for a sole proprietorship, however getting it registered with SME as a firm removes that obstacle easily.
We have a dedicated page enumerating all the requirements and processes of sole proprietorship registration in India. Please visit This Page to know more about it. From this page, you can also purchase the registration package.
There are two ways to go about it. You can either approach the online sources or the various government offices for getting your sole proprietorship registered or you can avail of a package for sole proprietorship registration from a service provider like us.
Doing it all by yourself will consume lots of time and the chances of making an error prominent. Buying a service package will make things smoother and more efficient here. It will save time and you would get complete peace of mind as your registration process will be handled by legal and accountancy professionals.
In case you need more information on sole proprietorship registration, feel free to Book a Free Consultation session with us.