What are some key benefits/ reasons of the conversion of Proprietorship Firm into a One Person Company?

magusJune 19, 2020

Investors prefer corporate structures over proprietorship firms.
The liability of the members or the directors are limited in case of a one person company whereas in case of proprietorship firm the liabilities are unlimited
A one person company is more transparent structure of business as compared to proprietorship firm
The benefit of startup recognition under the startup India scheme of the government of India can be availed by a one person company and not by any proprietorship firm.
The one person company has a separate legal identity as compared to a proprietorship firm.
There is a separation of ownership and management in a company, whereas in proprietorship firm, the proprietor considered as owners as well as the manager of the firm.

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