Proprietorship Registration in Koderma can be the end by either making a Trade License or making a Shop and Establishment License. Both of these licenses are issued by local department based upon pre statement of documents. We have a teal of local staffs and professionals are who are adroit in dealing in the vent of local departments and have concerns in every department which makes it simple for us to apply for and get your hands on any local license. In Koderma we accept a minimum of 7 morning time to thing 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 on its own can start with Proprietorship Concern if the investment is little or he wants to fulfil minimum compliance. This type of business is a hassle forgive business without any additional compliance related liability. One can Begin business single-handedly by submitting his KYC documents. If an buccaneer is looking to examine to examine his area of measure then this is the type of event he needs to start from.
BENEFITS OF PROPRIETORSHIP FIRMS:
- Single Owner Concern, no involvement of outside party
- Minimum Registration Cost
- No Registration similar Compliance
- Easy and faster registration
- Can be closed easily
DRAWBACKS OF PROPRIETORSHIP FIRMS:
- Not suited for tall turnover business
- Limited Local recognition
- Switching into other business form shall gain to exhaustion of Brand Value
- Loss is borne by yourself by the Owner and responsibility may extend to its personal property in charge of loss