Different kinds of business forms and it’s features
For starting a new business, there are different business formations. Each and every business form has it’s own advantages and limitations. The common forms of business which are accepted worldwide are the following 1) Proprietorship business Proprietorship business is the most common and the simplest form of business. It can be formed very easily. It can be started by a single person who is called as a sole proprietor or sole trader. It has the least formalities for starting a business and it is the most comfortable form of business. Profits and losses of the business is beared alone by the sole proprietor. This form of business is ideal for small businesses where there is no need of big financial investment. Proprietorship business has no separate legal existence distinct from the owner. Liability of a proprietorship business is unlimited. Taxation matters are simple for proprietors compared to any other form ...