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Saksham
Legal Advisor! • 1y
Want to start a business but unsure what structure to opt? Any person who comes to me for consultation regarding their business incorporation, I ask them the following questions: 1. How many people are joining the business at the core level? If there's just one person your only options will be Sole Proprietorship or a One-Person Company. 2. How much liability you can afford, do you want to limit yourself or are flexible about it? 3. How do you want to keep the management, flexible or discussion based? 4. Do want your business to be highly regulated to least regulated? 5. What's your take on tax? Are you will to give flat 30% on your income or are flexible about it? 6. Do you want to raise funds through people/firms or are open to raise money just through loans? 7. Do you have any plans to onboard people at the management level at a later stage? 8. Do you have any plans to transfer your business? These qs make it clear about the ideas, ask yourself these before starting.
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