{"id":524,"date":"2022-05-30T09:07:05","date_gmt":"2022-05-30T09:07:05","guid":{"rendered":"https:\/\/www.bbnc.in\/blog\/?p=524"},"modified":"2022-05-30T09:07:05","modified_gmt":"2022-05-30T09:07:05","slug":"how-to-choose-the-right-legal-structure-for-your-business","status":"publish","type":"post","link":"https:\/\/www.bbnc.us\/blog\/setting-up\/how-to-choose-the-right-legal-structure-for-your-business\/","title":{"rendered":"How To Choose The Right Legal Structure For Your Business?"},"content":{"rendered":"
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Starting a business is a complicated process and becomes even tougher if you\u2019re not aware of the right legal structure for your business.<\/p>\n

Hence, while setting up a business, the first task is to choose the right legal structure for your business. In this blog, we\u2019ll discuss \u201cHow to choose the right legal structure for the business in India?\u201d<\/p>\n

Earlier there were just three types of business structures In India, namely sole proprietorship<\/a>, partnership firms<\/a> and company (both private and public included), however, recently introduced section 8<\/a> refers to NGOs and Limited liability partnership (LLP)<\/a> which refers to a hybrid form of partnership firm and company also emerged a few years ago.<\/p>\n

Each structure has its own advantage and disadvantage and it depends upon the needs of each business owner as to which structure suits their business.<\/p>\n

These include the level of control you want to exercise over the business, the personal liability you\u2019re willing to take for business debts, your personal tax position, the level of administration you want to do and how you want your business to be perceived.<\/p>\n

The following 7 factors would help in understanding how should one choose the legal structure of their business:<\/p>\n

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Table of Contents<\/p>\n