Proprietorship Registration in Lapung 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 upon pre upholding of documents. We have a teal of local staffs and professionals are who are expert in dealing in the same way as local departments and have concerns in every department which makes it easy for us to apply for and get grip of any local license. In Lapung we accept a minimum of 7 day time to matter 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 little or he wants to fulfil minimum compliance. This type of thing is a hassle free business without any additional acceptance related liability. One can Begin business lonely by submitting his KYC documents. If an speculator is looking to dissect to scrutinize his Place of measure then this is the type of event he needs to Begin from.
BENEFITS OF PROPRIETORSHIP FIRMS:
- Single Owner Concern, no involvement of uncovered party
- Minimum Registration Cost
- No Registration amalgamated Compliance
- Easy and faster registration
- Can be closed easily
DRAWBACKS OF PROPRIETORSHIP FIRMS:
- Not suited for tall turnover business
- Limited Local recognition
- Switching into extra business form shall improvement to exhaustion of Brand Value
- Loss is borne only by the Owner and answerability may extend to its personal property in case of loss