IndianXperts offers proprietorship startup from Rs.2599/-
Proprietorship: A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business.
Key Features of Proprietorship Firm
One Person Required as Single Entrepreneur.
Single Owner of the Business.
Easy to Start and Easy to Close.
Lower Cost of Formation and Compliance.
Disadvantages of Proprietorship Firm
Lack of Resources.
Lack of Credibility.
Can not raise funds easily.
Can not add Partners.
As a sole proprietor, main objective of the firm is opening a current bank account on the name of business. so basically most of the banks ask for any legal certification for the business.
So as per convenience of the readers we can divide business as 2 Categories.
a) Service Based Business -
These types Business are providing services Online and Offline to users. Example are - Website Development/Digital Marketing/Consulting/ECommerce Marketplace/Marketplace Business Models/Tickets and Hotel Bookings/Classifieds Websites or any other type of business which providing the services.
b) Product/Manufacturing/Sales Business -
These type Business are selling any product to customers through own website or offline. They are selling VAT applicable products to consumer so these type startups fall in this category.