Proprietorship Business Setup & Advisory
A proprietorship is the simplest form of business structure, owned and managed by a single individual. It is widely preferred for small businesses, traders, consultants, and service providers due to minimal compliance requirements and operational flexibility.
Although no separate legal registration is mandatory under a specific statute, establishing a structured proprietorship requires multiple registrations depending on business activities.
Key aspects involved in proprietorship setup include:
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Selection of business name
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PAN linkage with business activities
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GST registration (if applicable)
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Shop & Establishment registration
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MSME registration
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Professional tax registration (where applicable)
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Bank current account setup
Since the proprietor and business are legally the same entity, unlimited liability applies. Proper structuring, documentation, and compliance are essential to ensure tax efficiency and legal clarity.
Advisory also includes evaluation of turnover, scalability, and future conversion into LLP or company structure when expansion is anticipated.