Benefits of One Person Company in India

Benefits of One Person Company in India


The main advantage of incorporating a one person company is that it gives legal status to your business. This legal identity is highly beneficial for your business as it creates a reputation in the market and builds trust among suppliers and customers.

It also helps in attracting skilled workforce and retaining them for a longer period of time. The other major advantage is the limited liability protection. This limited liability protects your personal savings from any unwanted events that can be a problem in a partnership firm or an LLP.

Sense of Belonging: The owner gets a feeling of being a part of the business and that motivates him to work hard to grow it. This is one of the most popular reasons for incorporating a One Person Company in India.

Sole Ownership: Having a one-owner company accelerates the decision making process and removes the need for suggestions from other managing officials. It also eliminates the need for a shareholder meeting and ensures that the decision maker is the only owner.

Easy Funding: With the advent of One Person Company it has become much easier to raise funds than a private limited company. This makes it possible for entrepreneurs to grow their business in a faster and more efficient way.

Taxation: Unlike a private limited company, the One Person Company is taxed both on its income and profits. This may act as a disadvantage for some owners.

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