If you want to start a small business for a short period of time, you’d ideally want to have something you can get out of with ease. This is why a sole proprietorship is a very good option in such a scenario. However, if you need people to help you and so on, you can opt for other forms of business.
If you opt for a sole proprietorship, the registration process is simple. You must apply for a PAN card and then choose a name for your business. The next step will be opening a bank account in the business’ name. You can also get a Registration Certificate under the Shops and Establishment Act if needed, as well as GST registration if the business turnover threshold is met. The registration process will take approximately 10 days.
Book a phone consultation with a top-rated lawyer on Lawfarm.