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Ensure that you have Aadhar Card & PAN Card

Step 1

Open a Bank Account in the name of the firm and set a licence under Shop & Establishment Act

Step 2

Register under GST

Step 3


Any Indian citizen with the desired name of the business can start a sole proprietorship business. Registration may or may not be required, depending on the ways and types of business you are planning to establish. However, to open a current account, banks require a business Registration certificate from you.

To create a proprietorship in India, all you need is a current bank account. But in india, to open a current bank acocunt, a bank may demand a business registratio certificate or shop & establishment registration certificate

If a sole proprietor has a turnover of less than Rs. 20 Lakhs, it is not mandatory for him to get registered under GST, but in some circumstances, like , if you wish to sell online or to another state in India, you will require GST registration.

Sole proprietorships have several advantages over other business entities. like Easy to form, sole control of the business profits. However, they also have disadvantages, the biggest of which being that the owner is personally liable for all business losses and liabilities.

The main limitation to being a sole proprietorship are- Unlimited liability: Your small business, in the form of a sole proprietorship, is personally liable for all debts and actions of the company. Unlike a corporation or an LLC, your business doesn’t exist as a separate legal entity.

Self-Employed Business Owner. A self-employed business owner is someone who conducts a trade or business with the intent of making a profit. Independent Contractor or Franchise.

As a sole proprietor, by default, the legal name of your business is your own name. But you can choose to operate the business under another trade name, known as a Registered Business Name.

A sole proprietorship business does not take more than 5 days to open-up and get running. This simplicity makes it popular among small traders and merchants. It’s also much cheaper, of course. This is the other reason why it’s the most widely used business structure.

Most local businesses are run as sole proprietorships, from your grocery store to a fast food vendor, and even small traders and manufacturers. This is not to say that larger businesses do not operate as sole proprietors. Even some jewellery shops are sole proprietors, but this is not recommended.

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