Sole Proprietorship

Sole Proprietorship

A Sole Proprietorship is the most basic and widely used business structure in India — especially among retailers, freelancers, small traders, and home-based businesses. It’s owned and operated by a single individual, making it easy to start, manage, and control.

At Lakshyaniti Compliance Solution LLP, we assist you in setting up your sole proprietorship with the right registrations (GST, MSME, Shop License, etc.) to ensure smooth business operations and legal compliance.
While it doesn’t offer limited liability or a separate legal identity, a sole proprietorship remains a popular choice for businesses looking to start quickly with minimal cost and compliance. It’s ideal for those testing the waters before scaling into more formal structures like LLP or Private Limited Company.

✅ Why Choose Sole Proprietorship?

  1. No Formal Incorporation Needed – Start quickly without complex paperwork.

  2. Full Control – One person manages and owns the business.

  3. Low Compliance – No ROC filings, board meetings, or annual returns.

  4. Cost-Effective Setup – Minimal setup cost and lower recurring expenses..

  5. Ideal for Local & Small Scale Operations – Trusted structure for retail and service businesses.

🛠️ Our Services Include:

  1. Business Name Consultation

  2. GST Registration

  3. MSME/Udyam Registration

  4. Shop & Establishment License (where required)

  5. PAN & TAN (if needed)

  6. Bank Account Opening Assistance

  7. Basic Accounting & Tax Filing Support

📋 Documents Required:

  1. PAN & Aadhaar Card of Proprietor

  2. Passport-size Photo

  3. Address Proof (Utility Bill/Bank Statement)

  4. Rent Agreement/NOC (if office is rented)

  5. Business Activity Details

💰 Timeline

Registration Time:7–10 working days.