Proprietorship Registration in Latehar can be finished 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 encouragement of documents. We have a teal of local staffs and professionals are who are expert in dealing later than local departments and have concerns in every department which makes it easy for us to apply for and obtain any local license. In Latehar we take a minimum of 7 day time to matter 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 Begin with Proprietorship Concern if the investment is little or he wants to fulfil minimum compliance. This type of matter is a hassle clear business without any additional submission related liability. One can start business and no-one else by submitting his KYC documents. If an voyager is looking to evaluate to study his area of acquit yourself 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 plus to exhaustion of Brand Value
- Loss is borne on your own by the Owner and answerability may extend to its personal property in feat of loss