START YOUR BUSINESS ALONE
You don't need too many people to start your business. Government has provided ways to enable individuals to start their businesses alone. You need to identify which structure suits you the best. And we are here to guide you!
Types of Sole Proprietorship
Shops and Establishments Registration is not just valid for individuals but for other forms of businesses as well.
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Professional Tax Registration is a mandatory compliance for businesses and individuals, ensuring timely payment of tax levied by state governments.
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GST registration is a mandatory requirement for businesses in India, ensuring compliance with tax laws and enabling seamless trade operations.
FSSAI License is a mandatory compliance for food businesses in India, ensuring food safety, hygiene, and standards as per the Food Safety and Standards Authority of India (FSSAI).
Starting a business? MSME registration provides financial support, tax benefits, and government incentives to help small enterprises grow.
An Import Export License (IEC) is a mandatory registration for businesses engaged in international trade, enabling seamless import and export of goods and services in India.
Step-by-Step Process for Sole Proprietorship Registration
Setting up a sole proprietorship is straightforward. Here’s a step-by-step guide:
Step 1: Choose a Business Name
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Ensure the name is unique and not trademarked.
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Check domain availability if you plan to go online.
Step 2: Register a Business Address
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Provide a rental agreement or ownership proof for the business location.
Step 3: Obtain Required Licenses & Registrations
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Apply for GST Registration if applicable.
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Get a Shop & Establishment Certificate if operating from a physical store.
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Obtain Udyam Registration for MSME benefits.
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Apply for other relevant registrations based on your business type.
Step 4: Open a Business Bank Account
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Submit any government registration certificate (GST/Udyam/Shop Act) to open a current account.
Step 5: Maintain Proper Accounting & Tax Compliance
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File GST returns (if registered).
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Maintain proper financial records for tax purposes.
Timeline for Sole Proprietorship Registration
The registration process timeline depends on the type of registration chosen:
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GST Registration – 10 to 15 working days
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Udyam Registration – 1 to 2 working days
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Shop & Establishment Registration – 10 to 15 working days (varies by state)
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FSSAI Registration – 15 to 30 days (based on the type of registration)
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Import Export Code (IEC) – 5 to 10 working days
Documents Required for Sole Proprietorship Registration
To register a sole proprietorship, the following documents are required:
Benefits of Registering a Sole Proprietorship
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Easy to Start & Operate: Minimum compliance and no complex regulations.
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Complete Control: The proprietor has full decision-making authority.
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Minimal Compliance: No mandatory annual filings like private limited companies.
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Low Cost of Formation: No heavy legal fees or incorporation costs.
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Tax Benefits: Lower tax rates compared to companies.
Frequently asked questions
