Proprietorship or Sole Proprietorship is the simplest business structure in India amongst all the
business structure. This business structure is for individual who wants to establish a small business
with very low cost.
In this business structure there is no benefit of Limited liability, The owner will be obliged to pay all
the debts or expense of company even from his own asset. This business structure can be started
even from home with few investments.
To established this kind of business the owner just needs some basic things to do like first he has to
choose a name different from his name than he needs to do Goods and Service Tax registration if the
threshold limit exceeds or needed. Then he can take UDYAM or MSME registration to take benefits
from the government. He can also open a current bank account on the name of his company to take
the revenue only on business account using GST number.
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