Proprietorship or sole proprietorship which is also known as sole trader, is a type of business entity owned and operated by one person. It is also like a individual giving business name for himself to perform business activities professionally.
There is no mechanism provided by the Government of India for the registration of a Proprietorship. Therefore, the existence of a proprietorship must be established through tax registrations and other business registrations that a business is required to have as per the rules and regulations. For instance, VAT or Service Tax or GST Registration can be obtained in the name of the Proprietor to establish that the Proprietor is operating a business as a sole proprietorship. Thus, all the registrations for a proprietorship would be in the name of the Proprietor, making the Proprietor personally liable for all the liabilities of the Proprietorship.
Kazi & Company provide all related services from registration , regular compliances and closure.
Key Features of Proprietorship Firm

• 1 Person Required as Single Entrepreneur.
• Single Owner of the Business.
• Easy to Start and Easy to Close.
• Complete Control.
• Lower Cost of Formation and Compliance.

Disadvantages of Proprietorship Firm

• Lack of Resources.
• Unlimited Liability.
• Lack of Credibility.
• No Separate Pan Card.