Incorporation Services in Chennai
Choosing the best form of business as important as the execution of the idea. If your idea needs funding then Proprietorship, OPC and partnership cannot give the right plough back what your business needs. So, before choosing, look over all the aspects that can affect your decision of starting a business.
Key facts to consider while choosing
- Legal Existence:
For a startup it is best to first consider whether he wants to start business under a legal entity or under his own name.
- No. of persons Involved:
The second key fact for choosing a right form depends upon the no. of persons involved in the initial stage of startup.
- Capital requirement:
Choosing a right form also depends upon the initial capital eligibility and future funds availability.
- Funding requirements:
If in near future, funding is required in the startup, then it has to be planned in the initial stage of business.
- Restriction on Personal Liability
It has to be decided in the initial stage whether the key persons is liable personally or there should be restriction.