Start A Business

According to the 2013 Act, a private company must have a minimum of two members and a maximum of 200 members. If a private limited company faces financial difficulties, its shareholders are not required to sell their personal assets, implying that they should have limited liability.

The advantages of both the sole proprietorship and the corporation are combined in the OPC business structure. In this way, the need to find suitable business partners is removed, making it easier to launch a company legally.

A partnership firm is a type of business entity in which two or more individuals, known as partners, come together to operate a business with the goal of making a profit. The partners share the profits and losses of the business, and each partner is personally liable for the debts and obligations of the business. 

One individual owns, operates, and maintains control over all aspects of a business that is organised as a sole proprietorship. It is quite simple to launch a proprietorship business, and there is a low threshold for regulatory and statutory compliance.