Proprietorship
A sole proprietorship (also known as individual entrepreneurship, sole trader, or simply proprietorship) is a type of unincorporated entity that is owned by one individual only. It is the simplest legal form of a business entity.
Advantage Of Sole Proprietorship:
- Easy and inexpensive process
- Few Government regulations
- Tax Advantages
- Single Control and decision making power No Sharing of Profits/Losses.
Registration required for Sole Proprietorship
- Shop and Establishment Act under the policies of particular State
- SME – Udyam Aadaar registration
- Goods and Services Tax registration