Sole Proprietorship

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Sole Proprietorship

Sole Proprietorship is single proprietorship which have sole owner and there is no legal contrast between the owner and the business. All the services required for sole proprietorship in india are provided by Go Company. The professionals of Go Company are well experienced and are experts in all the legal work required for the starting your own sole proprietorship.

Salient Features

  • Sole Proprietorship is easy to form and don’t require to go through elaborate legal formalities.
  • The capital required for the Sole Proprietorship is supplied wholly by the owner himself.
  • The owner in the sole proprietorship enjoys all the benefits/profits of the business.
  • The owner of the sole proprietorship also bears all the losses.
  • Sole Proprietorship have no legal existence.
  • The liability of the sole proprietor is unlimited i.e. the liability extends beyond the capital invested in the firm.

Pros

  • Sole Proprietorship is easy to form.
  • There is maximum incentive for work in sole proprietorship.
  • There is secrecy in sole proprietorship’s business.
  • There is flexibility in operations in Sole Proprietorship.
  • Quick decisions can be taken in Sole Proprietorship.

Cons

  • In Sole Proprietorship, there is difficulty in raising capital.
  • There can be lack of continuity in Sole Proprietorship.
  • In Sole Proprietorship, the owner is directly responsible for all the losses, debts and violations coming from the business.
  • There is limited managerial ability in Sole Proprietorship.
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Process to Set up a Sole Proprietorship

Packages:

Select from the following packages :

  • For Basic
    • 1. TAN
    • 2. Service Tax Regi...
    • Rs. 3,999
  • For Standard
    • Basic +
    • 1. EPF Registration
    • 2. Shop License
    • Rs. 9,999
  • For Premium
    • Basic + Standard +
    • 1. ESI Registration
    • 2. VAT Registration
    • Rs. 27,999

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