Proprietorship Registration in Patna City can be ended 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 pronouncement of documents. We have a teal of local staffs and professionals are who are expert in dealing gone local departments and have concerns in every department which makes it simple for us to apply for and get any local license. In Patna City we accept a minimum of 7 daylight 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 start with Proprietorship Concern if the investment is small or he wants to fulfil minimum compliance. This type of issue is a hassle pardon business without any additional acceptance related liability. One can Begin business and no-one else by submitting his KYC documents. If an swashbuckler is looking to evaluate to scrutinize his Place of achievement then this is the type of concern he needs to Begin from.
BENEFITS OF PROPRIETORSHIP FIRMS:
- Single Owner Concern, no involvement of external party
- Minimum Registration Cost
- No Registration linked Compliance
- Easy and faster registration
- Can be closed easily
DRAWBACKS OF PROPRIETORSHIP FIRMS:
- Not suited for high turnover business
- Limited Local recognition
- Switching into other business form shall help to exhaustion of Brand Value
- Loss is borne on your own by the Owner and responsibility may extend to its personal property in lawsuit of loss