Overview
A Proprietorship is the simplest form of business structure in India, owned and controlled by a single individual. While it is easy to start and manage, it has several limitations such as unlimited personal liability, restricted capital, and limited scope for expansion. As the business grows, one person may struggle to handle increasing responsibilities, finances, and decision-making alone. At such a stage, converting the proprietorship into a Partnership Firm becomes a practical and strategic choice.
A partnership firm allows two or more people to come together, combine their skills, contribute capital, and share profits and losses. It spreads responsibilities among partners, reduces the burden on one person, and provides greater financial strength to the business. The conversion is done by closing the existing proprietorship and forming a new partnership firm, including the proprietor as one of the partners along with one or more new partners.
At BizGlobal, we help entrepreneurs smoothly convert their proprietorship into a partnership firm. We assist in drafting the Partnership Deed, obtaining a PAN for the new firm, registering it with the Registrar of Firms, and transferring all licenses and registrations. Our experts handle every legal and compliance step so that your transition from sole ownership to shared ownership happens without stress or disruption.
