When LLP is compulsory The requirement for forming a Limited Liability Partnership (LLP) varies by jurisdiction. In some countries, LLP may be a voluntary option for business entities, while in others, it may be mandatory for certain types of businesses or professions. Here are some scenarios where forming an LLP may be compulsory:… Read More »
LLP and Sole Proprietorship The transformative decision of selecting between a Limited Liability Partnership and a Sole Proprietorships influenced by an array of factors. It is ranging from your business goals to liability protection, and even management structure. Within this captivating landscape, careful consideration of these elements paves the way for an informed… Read More »
Mudra loan scheme Mudra loan scheme Website Link Mudra loan scheme: The MUDRA (Micro Units Development and Refinance Agency) loan scheme offers support to a diverse array of business sectors and activities. While the specific list of eligible projects may vary depending on the lending institution and their criteria, here are some common… Read More »
Mudra Project Profile MUDRA (Micro Units Development and Refinance Agency) project profile refer to the detailed descriptions of various types of business projects or activities that are eligible for financing under the MUDRA loan scheme in India. These project profiles provide information about the nature of the business, its scope, investment requirements, potential profitability,… Read More »
Can a private limited company be a proprietor of a firm No, a private limited company cannot be a proprietor of a firm. In legal terms, a proprietor refers to an individual who owns and operates a business as a sole proprietorship. A sole proprietorship is a business structure where the owner has complete control… Read More »
Mudra Yojana It is also known as the Pradhan Mantri Mudra Yojana (PMMY), was launched on April 8, 2015, in India. It was introduce by the Government of India to provide financial assistance and support to small and micro-enterprises in the country. The main objective of the Mudra Yojana is to promote entrepreneurship and generate… Read More »
Private sector enterprises feature Private sector enterprises are businesses that are owned and operated by individuals or groups of individuals rather than the government. Here are the key features of private sector enterprises: 1.Private Ownership: Private sector enterprises feature always own and control by private individuals or organizations. The owners bear the responsibility for the… Read More »
Can a sole proprietorship have multiple businesses Certainly, a sole proprietorship can have multiple businesses. In fact, a sole proprietor has the ability to operate multiple businesses simultaneously as long as all the ventures are legal and adhere to any relevant regulations. Each business would maintain its own income and expenses, which would be reported… Read More »
General partnership A general partnership is a business structure where two or more individuals agree to jointly own and manage a business. Each partner contributes to the business by sharing in its profits and losses, participating in decision-making, and contributing to day-to-day operations. In a gen. partnership, all partners assume unlimited personal liability for the… Read More »