Sole Proprietorship

A sole proprietorship is a type of business owned and operated by a single individual. It is the simplest and most common form of business structure. This structure is ideal for small businesses and individual entrepreneurs who want to maintain full control and enjoy simplicity in management and operation.

Features

Single Ownership

The business is owned by one person who is responsible for all aspects of the business.

No Legal Distinction

There is no legal distinction between the owner and the business. The business does not exist as a separate legal entity.

Full Control

The owner has complete control over the business decisions and operations.

Easy Formation and Dissolution

It is easy to start and dissolve a sole proprietorship. There are minimal legal formalities and costs involved.

Unlimited Liability

The owner is personally liable for all the debts and obligations of the business. This means that personal assets can be used to pay off business debts.

Taxation

The business income is reported on the owner’s personal income tax return, and the business itself is not taxed separately.

Steps to register a Sole Proprietorship

1. Fill the contact form /make appointment

2. Initial Consultation with our experts

3. Documents Preparation.......

4. Process ahead with guidance

Relevant FAQs

How do I start a sole proprietorship?

Starting a sole proprietorship is straightforward. You need to choose a business name, register it if necessary, obtain any required licenses or permits, and start operating your business.