Hello & Welcome Back to Our Eight-Part Video Series on Types of Businesses. In this Series, we help you choose the best-suited structure for your startup based on several factors like legal provisions, ownership control, management structure, liability, taxation, access to capital, and more. Particularly for this video, we have taken up the Cost of Compliance in Business. Our objective is to compare the different types of businesses including Sole Proprietorships, Partnership Firms, LLPs, and Companies on this factor to analyze which of these best suits your business.
Why is Compliance Requirement Important for Businesses?- Compliances are the backbone of Financial Management and Legal adherence in a business, heavily impacting the overall cost of operations. Be it financial reporting, accounting, maintaining records, or adhering to industry standards, compliances set the foundation for a business to thrive and succeed. Besides, it also helps avoid unnecessary penalties, additional expenses, and other legal consequences that may hamper its activities. When it comes to different business structures, the degree and cost of compliance differ drastically.
In this video, we’ve discussed the key compliances for the following types of business:
1. Sole Proprietorship
2. Partnership Firm
3. Limited Liability Partnership
4. Company
For more information, watch the video till the end!
You can also read our detailed blog: [ Ссылка ]
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Related Videos:
Types of Businesses - Access to Capital: [ Ссылка ]
Types of Businesses - Tax Liabilities: [ Ссылка ]
Types of Businesses - Ownership & Management Structure: [ Ссылка ]
Types of Businesses - Legal Structure: [ Ссылка ]
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