Proprietorship Company refers to business that legally has no separate existence from its owner. We Smartcorp offers various services like One person company registration, Private limited company registration, Public limited company registration for our valuable clients In Tirupur. The registration can be done quickly and efficiently with our experts teams. Proprietorship Company simply refers to a person who owns the business and he is personally responsible for its debts. The company can be operated under the name of its owner.
The proprietorship has no registration and there is no need for approval before using the name. The liability here is unlimited. The minimum and the maximum members can be one. There is no foreign ownership allowed. The sole proprietor must file a Schedule SE with Form 1040. One of the main benefits of the sole proprietorship is the tax breaks. The disadvantage is in getting capital funding, specifically through established channels, such as issuing equity and obtaining bank loans or lines of credit.