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Sole Proprietorship Guide
🌟 Sole Proprietorship – Start Your Business the Simple Way!
💼 What is a Sole Proprietorship?
A Sole Proprietorship is the simplest business structure in India – perfect for individuals looking to start fast and stay lean.
Retail Shops
Freelancers
Home-based Businesses
Consultants
Local Service Providers
✅ Why Choose Sole Proprietorship?
- ✅ Easy to start
- ✅ Minimal compliance
- ✅ Full control – you make all decisions
- ✅ Low cost setup
- ✅ Quick registration process
📝 What Do You Need to Register?
1. Business Name
Choose a unique, catchy name – no formal approval needed!
2. PAN & Aadhaar
Your personal PAN works. Aadhaar needed for verification.
3. Current Account
Open a current account with 2 business registrations.
4. Key Registrations
- ✅ GST (if applicable)
- ✅ Udyam (MSME)
- ✅ Shop & Establishment License
- ✅ Trade License
- ✅ Professional Tax
📋 Other Legal Compliances
- ✅ Income Tax Filing – under personal PAN
- ✅ GST Filing – if registered
- ✅ Maintain simple books of accounts
- ✅ Audit only if turnover crosses limits
🚀 Pros vs ⚠️ Cons
👍 Pros
- ✅ Easy to start & shut
- ✅ No MCA filings
- ✅ Less paperwork
- ✅ Owner keeps all profits
⚠️ Cons
- ✅ No limited liability
- ✅ Hard to raise funds
- ✅ No separate legal identity
🤔 Is It Right for You?
✅ YES – If you're a solo entrepreneur with low risk business
🚫 NO – If you want to scale, raise capital, or need legal protection
🙌 How We Help You Launch Smoothly
🔧 Gumasta License
Quick registration to legally run your shop or office.
📌 Udyam Registration
MSME benefits, loans, schemes and more.
🏁 All-in-One Business Launch Support
We handle the entire process – from choosing the name to getting you legally registered.
Talk to Us Today →
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