Difference between Sole proprietorship and One Person Company
One Person Company and Sole Proprietorship are two different business structures & also are different in terms of their working but sometimes people get confused between them due to their similar-sounding words. Let’s make a clear distinction between both of them so that you’ll be able to pick the best suitable one. One Person Company or OPC means a Company that h a s only one person as to its member. It is a fusion of Sole-Proprietorship and Company form of business. In order to enable a person who is carrying on the business in the Sole-Proprietorship firm to enter into a corporate outline with relaxed or concessional requirements under the Act, the Companies Act 2013 had brought in the new concept of OPC. is a popular type of unregistered business institution owned, managed, and operated by a single person. A sole proprietorship is the “ One Man Business Entity “. All the investments for the Sole Proprietorship business is done by the single proprietor who bea