ENTREPRENEURSHIP

Detailed explanation-1: -One can start a business on his own under any name as a sole proprietorship concern. The cost of starting a business as sole proprietorship is almost nil. The only expense that may be required is to obtain a license for the business, if required.

Detailed explanation-2: -You must have a valid business registration certificate from your state or local municipality. You must have a valid trade license if you plan to carry on any type of business other than a sole proprietorship. You must have at least ₹ 50, 000 in cash and liquid assets to start your business.

Detailed explanation-3: -Can A Company Become A Sole Proprietorship? Yes, a company can become a Sole Proprietorship in India. A Sole Proprietorship is the simplest and most common form of business entity, where one person owns and operates the business.

Detailed explanation-4: -A sole proprietorship-also referred to as a sole trader or a proprietorship-is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business. Many sole proprietors do business under their own names because creating a separate business or trade name isn’t necessary.

Detailed explanation-5: -A sole proprietor is someone who owns an unincorporated business by himself or herself.