Proprietorship
A sole proprietorship is a type of business where one person is responsible for managing, owning, and controlling everything. The owner of the company is referred to as the Sole Proprietor. Since the business is operated by an individual, there is no legal separation between the owner and the business. All profits earned by the business belong solely to the owner. Additionally, there is no requirement for formal registration of a sole proprietorship firm.
The ease of establishing a sole proprietorship business is its primary benefit due to lower startup costs and fewer legal documents needed.
Udyami Mart is a business platform that provides incorporation, regulatory compliance, advisory, and management consulting services to clients in India and abroad. We make incorporating a Proprietorship Firm fast and simple! Udyami Mart is a business platform that provides incorporation, regulatory compliance, advisory, and management consulting services to clients in India and abroad. We make incorporating a Proprietorship Firm fast and simple!
