machan what are the benefits if we registered the business as a pvt ltd, rather than a joint venture or own business ?
Disadvantages of Sole Proprietorship
Capital is provided by a single person who is the owner (It will be a risk)
losses to be born alone
Unlimited liability of the owner
No legal personality
No continued existence
Disadvantages of Partnership
Unlimited liability of partners
No separate legal identity
Profit shared among partners
Conflicts among partners
Advantages of Private Limited
Limited liability
Managed by a Board of Directors
losses to be born directors
Can raise more capital
Receiving legal personality
Continued existence