Showing posts with label BUSINESS. Show all posts
Showing posts with label BUSINESS. Show all posts

Top 5 Basic Skills You Need to Run a Business

There are some must-have skills every entrepreneur should have when running a business. These skills can give any entrepreneur a push in today’s competitive market, especially for those who are running solo. It’s always harder to act as a one-man-show but some of these skills are crucial for the success of a business. The good news is that any new skill you’ll posses will improve through work and will become easier to handle.

How to Start Business in India ?

When Business idea is decided, and the person is about to start business, the first thing that needs to be done is, the business has to be registered.
After completing legal formalities person can start business.

Understanding Sole Proprietorship

What is the meaning of Unlimited Liability?

In the case of “Sole Proprietorship”, the Govt. does not see any difference between the firm and the individual. If you are a Engineer Named Nandkishor and you start a Engineering Service firm called “N Designing Services” which is a sole proprietorship, the government does not differentiate between  “N Designing Services”  and “ Nandkishor 

Understanding Partnership Businesses

When one is starting a business, one may form a sole proprietorship when the business is small. The problem with this kind of business is that it cannot grow beyond a certain limit. This is because a sole proprietorship will not be readily sponsored by banks and other sources of finance.

Understanding Joint Stock Companies (Private & Public Limited)

In a partnership, there can be a maximum of 20 people, because of statutory limit and the amount of capital that can be generated is limited. Also, due to the unlimited liability of partnerships, the partners may be discouraged from taking huge risks and further expanding their business. To overcome these problems a public or a private company may be formed.