Register Sole Proprietorship

One of the best ways to enter the business world is to register the sole proprietorship. And, if you are planning it in Singapore, you have definitely made the correct choice as it is among the most uncomplicated type of business. The non-existence of partners makes this form of business popular because the full ownership lies with the single person and he has full control. The sole proprietorship is the next most common business after partnership which people in Singapore prefer the most. To register sole proprietorship is a right way to kick-starting such a business is an effortless affair because it requires minimal formalities. One of the major shortfalls of this business is that it is extremely difficult to differentiate the business from the owner of the company or business. This signifies that if a business incurs huge losses, the owner has to repay the amount from his pockets.

Partnership is nothing but an extension of the sole proprietorship. A partnership is started by two or more people. The partners are equally responsible for repaying the loss from their private property in case the company incurs a loss. Both the business types mentioned above are apt when the business has a low risk and is simple in nature.