in Commercial Law Corporate Law
Asked August 04, 2021

Registration of Business

  • 1 Answer

I want to do some small business with respect to weaving for a short period of time. Should I register such a business and what form of company should I opt for?

Answer 1

The most advisable form of business for a small business and a short period of time is a sole proprietorship. A sole proprietorship is a basic unit of business where management, control and ownership is in the hands of just one person. Also, such a business is not mandatory to be registered, but it is advisable as banks insist on doing so. The process will be extremely simple where you’ll be required to submit documents like Aadhaar Card, PAN Card and open a bank account.

Agree Comment 0 Agrees 6 months ago

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