Private limited company is popular and well known business structure it enjoys wide options to raise funds through bank loans, angel investors, venture capitalists, in comparison to LLPs and OPCs.
The Proprietorship (one person company) helps startup entrepreneurs they can approach angel investors, venture capitalists for funding and easily convert their OPC into multi shareholder private limited company.
Limited liability partnership is the modern business option for traditional firms operating as partnership.
A partnership is a relationship between individuals who have agreed to share the profits of a business carried on by all or any one of them acting for all as stated in Section 4 of the Indian Partnership Act. Therefore, a partnership consists of three essential elements.
A trademark identifies the brand owner of a particular product or service. Trademarks can be used by others under licensing agreements. Nobody will dare to copy your brand name once it is a registered trademark.
Goods and Services Tax is an indirect tax imposed in India on the supply of goods and services. It is a comprehensive multistage, destination based tax. Anyone supplying goods or services to another state, Online service providers, eCommerce sites need to apply for GST regardless of turnover.
The ISO 9000 family of quality management systems standards is designed to help organizations ensure that they meet the needs of customers and other stakeholders while meeting statutory and regulatory requirements related to a product or service.
The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.