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John Miller (Business Strategist)     26 March 2020

A one person company (opc) or a sole proprietorship?

Which one is better, a one person company (OPC) or a sole proprietorship?



Learning

 4 Replies

Shayon   26 March 2020

Depends on what business you wish to pursue. OPC have greater compliance requirements but limited liability, whereas Sole Proprietor has hardly any compliance requirements but complete liability. You can get in touch with me for tailored advice based on your needs.

email - shayon_c@outlook.com

abhi jani   26 March 2020

Both One Person Company and Sole Proprietorship firm are better at its place. One needs to check which option is best suitable to the entrepreneur according to type of his/her business. If one is planning to start a business at very small scale then one can opt for a sole proprietorship firm otherwise considering the future synopsis OPC is better.

Following are criteria’s based on which can decide which type of entity to be incorporated.

  • Pre-Incorporation expenses
  • Liability
  • Taxation Aspects
  • Future Aspects
  • Flexibility
  • Need of Loan
  • Perpetuity

Get LegalWiz.in Experts help in deciding the constitution of the business. Contact us at 1800-313-4151 or drop us an email at support@legalwiz.in

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     26 March 2020

I do endorse the advice of Mr. Jani.

Shreya Saxena (Student at Faculty of Law Banasthali Vidyapith Rajasthan.)     01 April 2020

One needs to check which option is best suitable to the entrepreneur according to the type of his/her business. If one might want to start a business, the option of a sole proprietorship is better as there is lesser competition in the initial stage and also the expenses are less. Following are criteria based on which can decide which type of entity to be incorporated.

a. Pre-Incorporation

b. expenses

c. Liability

d. Taxation

e. Aspects

f. Future

g. Aspects

h. Flexibility

I. Need of Loan

j. Perpetuity


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