Proprietorship Limitation

startups

#1

Hi,

I am currently working in IT MNC. I and mu husband are planning to start our business in Textile as he has 20+ years of experience in this industry.

But need advise on should we go for Proprietorship or Partnership?

We don’t want to go for private limited as its too early for our business.

We came to know that for proprietorship, its mandatory to show 10 employees.

Can anybody suggest the best option?

Trupti Shah


#2

Hey Trupti,

Both are the best option If you are planning to just start the business, The law say that you need minimum 1 person for Proprietorship and Two for partnership / LLP.


#3

I am in discussion with one of the online Legal firms to help us to form company. They are insisting that its mandatory to have 10 employees in proprietorship firm. Hence pushing us to form private limited.

Very confused on legal compliance as Private limited will be add on cost for us to maintain at this early stage.


#4

Ok will provide you few references that will help you to registered your business hassle free. PM me will send you the details


#5

Hi… Can you please share references as discussed.


#6

Partnership is the best.
If you want to more know
Rajeev Kumar Ranjan
Mob 7004182124