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Question
Sudershan has undergone skill development training for maintenance of electronic items, from an institute started under the ‘Skill Development Mission’ by the Government of India. He wants to start his own small business in his locality with ₹ 1,00,000 given by his father as capital. He himself wants to manage and control this business, employing some assistants, if required. Out of the following, suggest the form of business organisation he can adopt.
Options
Public Limited Company
Private Limited Company
Partnership
Sole Proprietorship
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Solution
Sole Proprietorship
Explanation:
Sudershan wants to use ₹ 1,00,000 to start a small business that he will run and handle on his own. If he needs to, he can hire helpers. These traits are similar to those of a sole proprietorship, which is a simple business owned by one person with full power and little financial investment.
