Proprietorship Registration in Khagaul can be done 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 declaration of documents. We have a teal of local staffs and professionals are who are expert in dealing like local departments and have concerns in all department which makes it simple for us to apply for and come by any local license. In Khagaul we accept a minimum of 7 hours of 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 matter is a hassle free business without any additional consent related liability. One can start business single-handedly by submitting his KYC documents. If an fortune-hunter is looking to explore to scrutinize his area of exploit then this is the type of business he needs to start 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 tall turnover business
- Limited Local recognition
- Switching into further business form shall plus to exhaustion of Brand Value
- Loss is borne unaided by the Owner and answerability may extend to its personal property in engagement of loss