Proprietorship Registration in Old Commissioner Compound 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 confirmation of documents. We have a teal of local staffs and professionals are who are skilled in dealing following local departments and have concerns in all department which makes it easy for us to apply for and get your hands on any local license. In Old Commissioner Compound we take a minimum of 7 morning time to business 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 small or he wants to fulfil minimum compliance. This type of concern is a hassle forgive business without any additional acceptance related liability. One can Begin business abandoned by submitting his KYC documents. If an entrepreneur is looking to examine to study his Place of produce a result then this is the type of business he needs to Begin from.
BENEFITS OF PROPRIETORSHIP FIRMS:
- Single Owner Concern, no involvement of uncovered party
- Minimum Registration Cost
- No Registration associated Compliance
- Easy and faster registration
- Can be closed easily
DRAWBACKS OF PROPRIETORSHIP FIRMS:
- Not suited for high turnover business
- Limited Local recognition
- Switching into supplementary business form shall pro to exhaustion of Brand Value
- Loss is borne abandoned by the Owner and answerability may extend to its personal property in proceedings of loss