Proprietorship Registration in Khunti can be curtains by either making a Trade License or making a Shop and Establishment License. Both of these licenses are issued by local department based on pre verification of documents. We have a teal of local staffs and professionals are who are clever in dealing in the same way as local departments and have concerns in every department which makes it simple for us to apply for and attain any local license. In Khunti we take a minimum of 7 morning time to event Trade License or Shop and Establishment License.
Shop and Establishment License issued is for lifetime validity till it is suspended or surrendered, while Trade License is subject to regular renewal and verification.
Any person desirous of starting a business upon its own can Begin with Proprietorship Concern if the investment is little or he wants to fulfil minimum compliance. This type of matter is a hassle release business without any additional assent related liability. One can Begin business without help by submitting his KYC documents. If an pioneer is looking to scrutinize to probe his area of piece of legislation then this is the type of thing he needs to start from.
BENEFITS OF PROPRIETORSHIP FIRMS:
- Single Owner Concern, no involvement of uncovered party
- Minimum Registration Cost
- No Registration joined Compliance
- Easy and faster registration
- Can be closed easily
DRAWBACKS OF PROPRIETORSHIP FIRMS:
- Not suited for high turnover business
- Limited Local recognition
- Switching into further business form shall benefit to exhaustion of Brand Value
- Loss is borne and no-one else by the Owner and responsibility may extend to its personal property in clash of loss