1. Simple and Inexpensive to Start A sole proprietorship is the easiest form of business to establish. It requires minimal legal formalities and low initial setup costs. Most businesses can begin operations with basic licenses or registrations. No need to register...
News Articles
What are the key characteristics of a sole proprietorship?
1. Single Ownership The business is owned and operated by one individual. There is no distinction between the owner and the business.s All profits and losses belong solely to the owner er. The owner makes all business decisions independently. No partners or...
Government Considers Input Credit Relaxation for Sole Traders
In a move aimed at reducing the tax burden and easing compliance for micro-businesses, the Government of India is considering a proposal to relax Input Tax Credit (ITC) norms for sole traders registered under the Goods and Services Tax (GST) framework. The proposal,...
Sole Traders Can Claim MSME Payment Delays on Samadhaan
In a significant policy update, the Ministry of Micro, Small and Medium Enterprises (MSME) has announced that sole traders are now eligible to file payment delay complaints through the MSME Samadhaan portal. This move brings individual entrepreneurs under the formal...
Digital India Portal Adds Proprietor-Focused Webinars
In a significant boost to entrepreneurial education and digital empowerment, the Digital India Portal has introduced a new series of webinars exclusively designed for sole proprietors. The initiative, launched by the Ministry of Electronics and Information Technology...
Sole Business Owners Get Access to NCS Job Listings
In a move aimed at bridging the employment gap and supporting micro-entrepreneurs, the Government of India has extended access to the National Career Service (NCS) job listings portal to sole business owners. The decision, announced by the Ministry of Labour and...
Government Urges States to Register Unlisted Sole Proprietors
In a significant push toward formalizing the informal economy, the Central Government has urged all states and union territories to expedite the identification and registration of unlisted sole proprietors. The directive, issued jointly by the Ministry of MSME and the...
Sole Traders Encouraged to Shift to Digital Invoicing
In a bid to streamline small business operations and strengthen compliance, the Government of India has launched a nationwide campaign encouraging sole traders to adopt digital invoicing systems. Spearheaded by the Ministry of Finance in collaboration with the Goods...
Govt-Backed Digital Wallets Cater to Sole Enterprises
In a major push to digitize small business operations, the Government of India has launched a dedicated initiative to offer government-backed digital wallets tailored specifically for sole enterprises. The move, led by the Ministry of Electronics and Information...
Business Correspondents to Guide Sole Bank Account Setup
To promote financial inclusion and ease banking access for individual entrepreneurs, the Government of India has directed public and private sector banks to deploy Business Correspondents (BCs) to assist sole proprietors in opening and managing business bank accounts....