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Sole Proprietorship is the most straightforward way to conduct business in India, as it is not restricted by any specific rules. Compliance requirements for sole proprietorships are low and straightforward. A sole proprietorship is a business that is operated by a single individual. A single individual is responsible for the decision-making and management of the business.
Numerous small companies, including grocery stores, parlours, boutiques, and retail establishments, can be formed as sole proprietorships. Even tiny business owners and manufacturers can form a sole proprietorship. Anyone looking to start a firm with a low initial cost can choose this business structure. It can be initiated in as little as 10-15 days. Additionally, you retain complete control of the business.
The documents required for a sole proprietary registration are:
The documents required for a sole proprietary registration are:
Adhar Card
Bank account
Registered office proof
PAN card
Additional business licenses necessary to start a business
Documents required for the sole proprietary firm are:
Documents required for the sole proprietary firm are:
Shop Act license
GST registration
Registration as SME