New Small Business in India

I plan to start a new small business in India (consultancy). Initially I plan to work alone on a small scale.

1)Could someone suggest whether proprietorship a good option?

2)Is it okay if the business is kept dormant for a year after registeration?

With Regards
Sachin Aggarwal

 

Proprietorship firms have their own advantage, but people tend to trust companies with their own BOD more

You can startup a properietoship firm with relatively lesser formalities and all, even less paperwork, and can be a work-from-home kinda business.

But be warned that a proprietorship is considered someone with lesser resources to satisfy big parties. So it's only advisable that you convert to a Private Ltd. ASAP

About the business being dormant for a year, I really have no specific answer for that. I will ask about it to a few people and let you know! Btw, any specific reason why you'd want a proprietoship business to stay inactive for a year ?

Cheers,
Abhishek

 

what business?
can you tell us?

 

He clearly mentioned, he is interested in starting a consultancy business and was wondering if proprietorship would be a good option!

Aaaahhhh ... what all people do to raise their post counts!

 

Thanks Abhishek. I appreciate your feedback. I will try to explain myself a bit more clearly.

I am staying in Japan right now. My business aim is to target Japanese companies. I am from technical background and lack good business skills. To experiment around a bit, I have designed a website. While registering the domain name, I realized that I should first get my company registered in India. If I host a website with a particular name and later fail to get a company with the same name registered, the efforts will go in vain.

In brief, I do not intend to start the business immediately. I just want to make sure that I reserve the particular name for myself.

Looking forward for your feedback.

With Regards
Sachin