Only one registered business can be found for every 127 unregistered businesses in India. In spite of the existence of options like Limited Liability Partnership and One Person Company, a Private Limited Company is what is favoured the most. One of the main reasons for this are the many myths associated with having a Private Limited Company in India.
Misconceptions like a single person can’t hold 100% of the shares in a Private Limited Company or that changes in the company are tough or almost impossible post registration are ones that have been doing the rounds for too long, and should be demolished soon. Such fallacies are especially detrimental to those aspiring to establish a new company in India. Hence, it’s crucial that you get all the proper information and segregate the myths from the truth before you decide to establish your business.