Are you planning to set up a new start up ? Plans are ready, idea is very clear, budgets & estimates are drawn, but wait, did you know from where to start ?
Most of the start ups are facing hurdles like finance, registrations issues, etc. due to the reason of incorrect legal status chosen at the time of setting up new venture. In the initial phase we just trying to minimize our costs by choosing proprietorship type which has no registration process, another reason is that it will start our business from the day first by just registering with Udyam Aadhar. Due to short of knowledge no one can predict the issues they need to face in the future & also can’t able to choose the correct status for their business. Some can take help of experts like CAs, Advocates, etc. but more or less all can give suggestions which can save taxes or minimize the legal issues, but no one can help to have long term view considering the growth of the business and nourishments like funds, human resources, ventures & agreements that the business will need to grow in the future.
Considering this we are trying to summaries all the types of business in the comparative manner which can makes the decision easy for the new entrepreneurs.
Conclusion – Facts & Figures mentioned above may changed as per the amendments made by the regulating authorities. For any questions related to this or if anyone required help in setup new start ups then contact to us.
Great Article liked the concept & will definitely approach for the my new start-up.