Reasons to register A Proprietorship firm
EASY TO START
An individual proprietor owns and manages the business and is responsible for all business transactions. The owner is also personally responsible for all debts and liabilities incurred by the business.
No Restiction on D9:D13 of the Business
Business name need not be registered.Any name can be choosed even if similar to other business entities unless trademark is registered.
Members of Proprietorship Business
Single Person can run the proprietorship business.
Minimal Rgulatory Compliance
Proprietoship business will not have more compliance to be followed legally like other business such as company, partnership etc.No corporate tax payments
Simple and Transparent
A sole proprietor has complete control and decision-making power over the business.
Proprietorship Business less costly to start a business as a sole proprietor, which is attractive to many new business owners who often find it difficult to attract investors.
Easy to windup
No formality for winding up or closing a proprietorship.As owner, a sole proprietor can even pass a business down to his or her heirs.