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The proprietorship firm is the simplest and common business constitution under which a single person can operate. A proprietorship firm can operate under the name of owner or either use a name that registered with Trade License. To open a Bank Current Account for proprietor in a Trade Name, Trade License issued by the local self government is mandatory. It is very easy to setup and operate, the proprietor itself can take all decision. The personal assets is also responsible for its business debts and vice versa.
In India every business must register for two license,
To know more about Proprietorship Firm
What is a Proprietorship Firm ?
Licenses required to start a proprietorship firm