Proprietorship Registration in Katihar 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 statement of documents. We have a teal of local staffs and professionals are who are expert in dealing considering local departments and have concerns in every department which makes it easy for us to apply for and get any local license. In Katihar we accept a minimum of 7 daylight time to concern 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 small or he wants to fulfil minimum compliance. This type of business is a hassle release business without any additional compliance related liability. One can Begin business unaided by submitting his KYC documents. If an voyager is looking to study to question his Place of act out then this is the type of concern 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 supplementary business form shall lead to exhaustion of Brand Value
- Loss is borne lonesome by the Owner and answerability may extend to its personal property in skirmish of loss