Want to start business what is suitable proprietor or partnership

819 votes

in your case, if you and your brother are starting the business together meaning thereby that, you both will share the capital as well as the profits, then partnership is a better option for the purposes of taxation and management.
Partnership does not create any additional problems so long as both the partners have good understanding and maturity to conduct business and there is transperancy in the business.

Advocate Unmesh Gopal Dindore LawRato

659 votes

It depends upon your choice of management and administration of business. In proprietorship concern only 1 Person can own and operate the business but, in Partnership firm both you and your brother can own and operate the business. However, it is important to mention that in both the ways the liability will be unlimited which is a matter of concern in today's time when other better options are available. You and your brother can incorporate a Pvt. Ltd. Co. and if you want to start small with a lesser capital then you can also opt for 'Limited Liability Partnership' (LLP). In both Pvt. Ltd. Company and LLP firm the liability is limited. You can get further information if you provide further details.

Advocate Chintan Thakker LawRato