25 Oct

How to successfully manage an individual business?

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Sole proprietorship (also known as a proprietorship) is the simplest and most manageable legal structure for a creator. It is particularly suitable for project promoters who want to create alone and who wish to keep control of their business. It is well suited to investment-intensive activities with modest development prospects. It is a status chosen by many artisans, entrepreneurs and unregulated liberal professions such as consultants, computer scientists, graphic designers. By choosing the conventional sole proprietorship, without opting for the tax system of the self-enterprise there will be no thresholds of turnover, which allows to consider a development in the long term. Visit this link to know about audit.

The advantages of the individual company

The procedures are reduced to a minimum and make it possible to launch quickly at a lower cost. Accounting requirements are also reduced. Just keep up to date three registers: the newspaper book, the general ledger and the inventory book.

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The sole proprietorship: simple operation

The entrepreneur who chooses to practice as a sole proprietorship will have the power to take all the decisions for his company, contrary to the companies, or the power is divided between the partners/shareholders and the managers. This difference is, of course, negligible in the case of single-partner companies.

Reduced costs

To constitute his sole proprietorship, the entrepreneur will not need to carry out all the mandatory formalities that are planned to create a company, the formalities of creation being very simplified. Statutes are not necessary and a simple file is to be deposited in the center of formalities of the companies.

Secondly, the sole proprietorship does not require in the course of life any particular legal formalism, unlike companies and the individual entrepreneur will not be obliged to deposit his annual accounts with the registry.