SETTING UP PROPRIETORSHIP BUSINESS
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꧁ Digital Diary ༒ Wefru – India's Largest Writing Community ༒ Read, Write & Grow ༒꧂
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A Sole Proprietorship is a most common business structure in India. When anyone think to start a new business, he has most common choice to choose this type of organisation. This is an unregistered form of organisation which is owned, controlled and managed by an individual person. So, we can say that person is “All in All” in his business.
Proprietorship is very easy to start, have low compliance formalities in their day-to-day operations and less costing. It is suit for unorganised, small entity which are remain small and limited period /liability in existence.
There is no any registration formalities and regulations provided by any Indian laws. Simply, business owner want to run their business with a suitable business title and open Current Bank Account to deal daily business transactions. So, a Sole Proprietorship requires a legal entity proof with Business name to open Current account with bank. This entity proof can be Udyog Aadhar and GSTIN etc.
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Vyapari Mitra started with the aim of simplifying Business Legal and IT needs that doing business in India should become easier. To accomplish our motto we are continuous working and develop the largest business services platform in the India with a range of business services from Getting Business Idea, Setting up with great efforts and brought a successful entity. By making it smooth we allow to do business, we hope to unleash Entrepreneurship and help small as well as medium businesses compete effectively. TradMate has been founded by an experienced team of CAs and Management Consultants.
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