Proprietorship Registration
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Proprietorship Registration
As you know by now, there are different types of business registration, and proprietorship registration is for small businesses that do not want to form a huge company. We believe you are aware of the benefits of such registration. It takes lesser documents than other business registration will do. The following information will increase your knowledge of Proprietorship registration.
Benefits of having a proprietorship registration
- It takes one or two days- The best thing about having a proprietorship registration is that you can get it quickly. If you want to start the business as soon as possible, you don’t have to wait for 15-20 days to get the registration done. You can get it on the same day or the next day of application. Since the local corporation office handles the entire process, it takes only one or two days to get the license.
- You can get it from the local corporation office- If you live in a city, this license will be issued by the nearby corporation office. It depends on your business address because it decided the ward office number. Once you know it, you can get the license from there. The process sounds easy, but it might take a lot of time if it is not done correctly. Don’t worry because we are here to help you.
- You can start with a small space, even your home- If you have a one-room space, you can get this license. Big businesses require a big setup, and a proprietorship registration requires a small setup. If you have a lesser budget and your business does not require a big space, then this is the license that you should go for. Well, it can be a room in your home or any space. If you own the property, then an electricity bill will work, and if your parents own it, then a NOC will work. If the property is rented, then you have to show the rent agreement.
- It is best for small businesses- If you want to start a small homegrown business, then the proprietorship registration is best for you. It does require a lot of money to register your business. Well, there are different slabs of the amount that is required for different businesses. The type of your business will decide the price of registration.
- It requires less maintenance- As the registration requires a small amount, the maintenance also requires less. Every year you have to renew the license. Meanwhile, if your business is getting some income, you will have to pay GST and Income Tax returns. That is all you have to do to maintain a proprietorship license.
The process is easy, and we can make it easier. Contact our proprietorship registration consultant today. They will tell you more about proprietorship registration and how it can help your business. Such registration is ideal for small businesses, new businesses which will grow bigger in future. When starting with a business, never invest a lot of money if you are unsure about it. Always start small and grow it bigger.
