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How to set up a sole proprietorship?

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Question added by Abdul Samad Nadeem Malik , Business Support Officer , Thimar Al Jazirah - 3M ESPE
Date Posted: 2014/04/13
Abdel Fattah Ibrahim
by Abdel Fattah Ibrahim , CDT Director , Colgate Palmolive

A sole proprietorship is a one-person business

Sole proprietorships are so easy to set up and maintain that you may already own one without knowing it. For instance, if you are a freelance photographer or writer, a craftsperson who takes jobs on a contract basis, a salesperson who receives only commissions, or an independent contractor who isn't on an employer's regular payroll, you are automatically a sole proprietor.

 

Santosh Kumar Jangid Santosh
by Santosh Kumar Jangid Santosh , Area Sales Manager , SP Techno Solution Pvt Ltd

Initially or step1 : Through documentation.

Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Establishing a sole proprietorship is cheap and relatively uncomplicated. You don't have to file any papers to set it up -- you create a sole proprietorship just by going into business. In other words, if you'll be the only owner of the business you're starting, your business will automatically be a sole proprietorship, unless you incorporate it or organize it as an LLC. Of course, you do have to get the same business licenses and permits as any other company that goes into the same business.

zafar abbas minhas
by zafar abbas minhas , Freelance Writer , DAILY MASHRAQ

ITS ONE MAN SHOW , SO YOU ARE THE ONLY ONE WHO HAS TO DECIDE THIS ,,, YOU , SO MOVE ON, DONT ASK ANY1

Mohammad Rehan Azim
by Mohammad Rehan Azim , Management, Tender Analysis, Tender Specialist, Dealing in Medical and Pharmaceutial , Thimar Al Jazirah Co.

you create a sole proprietorship just by going into business.

Mohammed Asim Nehal
by Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

Here are some tips from myside :

1) Create interest in your startup.

2) Be proactive about market changes.

3) Stick to your strengths.

 

The failure often surrounds five key dimensions: customers, business model, product, financials and team hence build your niche.

Mujtaba Hussain
by Mujtaba Hussain , Accounts officer , Miraj Entertaiments

their are no legal provision regarding the commencement of soleproprietorship

Muzammil Ahmed
by Muzammil Ahmed , Secretary cum document controller , United technoligies of electric substations and switchgears Co.

Business is easy to set up, it's also easy to ignore local registration requirements, business licenses, and paying taxes on your income.

Ahmed Sultan
by Ahmed Sultan , Assistant Manager , Motaaz Almotameez

you do have to get the same business licenses and permits as any other company that goes into the same business.

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