Proprietorship Registration in Lohardaga 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 confirmation of documents. We have a teal of local staffs and professionals are who are skillful in dealing when local departments and have concerns in every department which makes it easy for us to apply for and gain any local license. In Lohardaga we accept a minimum of 7 hours of daylight time to issue 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 business is a hassle release business without any additional agreement related liability. One can start business unaided by submitting his KYC documents. If an explorer is looking to dissect to dissect his area of feat then this is the type of event he needs to start from.
BENEFITS OF PROPRIETORSHIP FIRMS:
- Single Owner Concern, no involvement of uncovered party
- Minimum Registration Cost
- No Registration aligned Compliance
- Easy and faster registration
- Can be closed easily
DRAWBACKS OF PROPRIETORSHIP FIRMS:
- Not suited for high turnover business
- Limited Local recognition
- Switching into additional business form shall gain to exhaustion of Brand Value
- Loss is borne on your own by the Owner and answerability may extend to its personal property in engagement of loss