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What are the pros and cons about partnership firms and proprietor firms?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

What are the pros and cons about partnership firms and proprietor firms?

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2 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

​Nice question!! It is a common question among all people if they should start a private limited company registration or public limited company registration. There are end numbers or several benefits as well with a few numbers of differences.

Let's go ahead and check the difference between Private limited company registration and Public limited company registration.


  1. A public limited company is occupied by the government and shareholders and at least 7 members are required for its establishment. Whereas a private limited company is a company owned by private individuals; For which at least 2 people are needed to set up.
  2. It is a voluntarily formed association of persons with a minimum paid-up capital of Rs. 1,00,000 is. At least 2 people are required to open a private limited company. The maximum number of existing employees in a private limited company can be 200

The main difference between a private limited company registration and a public limited company.


  • There should be at least seven members to start a public limited company. In contrast, a private company can be started with at least two members.
  • A public limited company is a company that is listed on a recognized stock exchange and is publicly traded while a private limited company is a company that is not listed on a stock exchange and is owned by it. Remains with the owners.
  • The size of a private limited company is smaller than that of a public company and the financial resources are also less.
  • A public limited company must have at least three directors, while it is mandatory for a private limited company to have at least 2 directors.

There are serval other things which are required to do business in India.

GST registration: For GST registration in GST, Form GST REG-01 has to be filled. In this, the PAN card is very important, because the GST number is a pen-based number. Next, we will see its complete process and it is the second thing required in India to run a business without the interference of the Government.

ISO Certification: The International Standards Organization (ISO certification) is an independent organization that sets standards for businesses in terms of the quality, safety, and efficiency of a product. An ISO certification certifies that the organization has met all standardization and quality assurance requirements in the management system, manufacturing process, service, or documentation process.


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Open uri20170510 32134 tcchcu?1494421832 answered

Hiii friend..... - In Partnership Business the ownership is shared with 2 or more persons and in sole proprietor only one owner. - These both are easy to form with less paper work and these both are not separate with that of owners i.e. not separate entity. - In sole proprietor decision can be taken by himself he has complete control, but in Partnership the decision must be supported by major partners to get in effect. - These both have unlimited liability for Business lawsuits, obligations and liability. - In sole proprietor capital is raised by only one but in partnership the capital is contributed by many. - The business continuity in case of proprietor ends when sole proprietor dies but it continues if any partner dies in case of partnership. And there are many pros and cons for these business types.

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