A Startup Business Model
By Team Legistify / 2016-05-18
Business advisors, experienced entrepreneurs, bankers, and investors generally agree that you should develop a business plan before you start a business. A plan can help you move forward, make decisions, and make your business successful. However, not all business plans are the same, not every business needs the same level of detail. One should be able to choose which form of business organization to be Incorporated.

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Having a great idea and thinking of opening your own business is not at all sufficient. There are many more obligations to be fulfilled at the time of Incorporating a company or a firm. All necessary funds can be arranged and plans are made for the startup, but the main question arises is which form of business organization should you incorporate for your startup. There are so many ways of Incorporation. It can be sole proprietorship or LLP or Partnership or a full-fledged Company. This question bothers every entrepreneur. The Startup India Scheme has, however, made things easier for new businesses.

Sole Proprietorship

Sole Proprietorship is suitable for small business ideas because it has the most simplified legal structure.

Advantages of Sole Proprietorship

You can start your sole proprietorship firm without any hassle by just registering your company in income tax department and obtaining a license for the product you are carrying your business. The profits earned are all yours.

Business advisors, experienced entrepreneurs, bankers, and investors generally agree that you should develop a business plan before you start a business. A plan can help you move forward, make decisions, and make your business successful. However, not all business plans are the same, not every business needs the same level of detail. One should be able to choose which form of business organization to be Incorporated.

Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!


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