A sole proprietorship is a business owned, managed and controlled by one person. It is one of the most common forms of business in India, used by small businesses operating in the unorganized sectors.
Registration of Sole proprietorship is recognized by the Government as a registered entity, by registering with one of these:
The advantage of Sole proprietorship-
Sole proprietorship is the easiest form of business which some small businesses and startups choose to start with. By doing any one of the registrations that is Service tax registration/VAT or Small Scale Industry registration sole proprietorship is good to kick off. This has some drawbacks like unlimited liability of the proprietor, yet businesses take this as another part of the risk in their entrepreneurship journey.