Proprietorship Registration in Namkum can be over and done with 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 announcement of documents. We have a teal of local staffs and professionals are who are adroit in dealing later than local departments and have concerns in every department which makes it easy for us to apply for and come by any local license. In Namkum we take a minimum of 7 daylight time to situation 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 little or he wants to fulfil minimum compliance. This type of thing is a hassle forgive business without any additional consent related liability. One can Begin business unaccompanied by submitting his KYC documents. If an speculator is looking to question to investigate his Place of doing then this is the type of situation he needs to Begin from.
BENEFITS OF PROPRIETORSHIP FIRMS:
- Single Owner Concern, no involvement of external party
- Minimum Registration Cost
- No Registration combined Compliance
- Easy and faster registration
- Can be closed easily
DRAWBACKS OF PROPRIETORSHIP FIRMS:
- Not suited for tall turnover business
- Limited Local recognition
- Switching into additional business form shall plus to exhaustion of Brand Value
- Loss is borne only by the Owner and liability may extend to its personal property in combat of loss