What is Sole proprietorship? What are its benefits over other types of companies?
Company Registration is a paramount step for any business organization to protect & secure business rights. There is various forms/constitution of businesses available that one can register with. But among all Sole Proprietorship is a popular type of unregistered business institution owned, managed, and operated by a single person. The sole proprietorship is the “One Man Business Entity”. All the investments for the Sole Proprietorship business are done by the single proprietor who bears all the losses and enjoys all the profits. The overall control of the business, as well as its management, is in his hands. He can appoint individuals for conducting the business, but the ownership will rest solely with him. This type of business can be incorporated in fifteen days and hence makes it one of the most popular types of business to begin in the unsystematic sector, specifically among micro and small businessmen, traders or merchants. The majority of the unorganized sectors pref...