Entity Choice Wizard

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Do you plan to open an entity for a social cause?


Any person planning to start an organization which is for social cause has an option to open Section -8 Company under companies Act, which is more reliable than opening a trust or a society.

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Are you planning to deal with primary products such as Agriculture/Fishery/Dairy Products,etc and having more than 10 members or 2 institutions or any combination of them?


A primary producer company is an organization that engages in the business of primary production of goods. The concept was introduced by the Government of India in order to promote and develop the primary sector of the economy. Primary producers are those who are engaged in the activities of farming, forestry, animal husbandry, and fishing. The main objective of a primary producer company is to promote the welfare of its members by providing them with financial and technical assistance. In addition, primary producer companies also undertake various activities like marketing, processing, and storage of primary products.

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How many people will have ownership in your company?


The business registration process can be complicated, but there are some key decisions you need to make about your company. Do I want it as an individual owner or in partnership with others? How many members do we have and what type of funding structure will serve our needs best -

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Is your business local based service provider?


If your business is a restaurant, school, shop, etc then it's a local centered business, unless they are stores open by the OEM as a part of their chain strategy. If you take franchises of a brand with limited impact in your immediate market, then it is also a local based service provider. If you have scope beyond your local boundary then you become a regional or a national player.

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Do you plan on seeking a loan from a bank or other lender to fund your business?


When you take out a loan to fund your business, it’s important that the entity be formalized before debts get incurred. If this isn't done properly then in some cases personal property can become repossession collateral if there are issues with repayments on behalf of your sole proprietorship or partnership. If planning ahead is vital for success- don't wait!

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Is your business is based on a professional license?


It is important to note that Limited Liability Partnerships offer more protection than usual partnerships. For example, if you are a doctor or attorney with high professional liabilities it would be wise for your long-term success in business operations as well as personal safety consider opening up your firm on the limited partnership side of things instead!

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Does your business require to handle government and large corporate house as customers?


The formal process of acquiring new clients and developing their relationships with your company starts by submitting an RFP or filing tenders. It is always more beneficial to establish yourself as a legal entity in order that you can be sure all legal requirements have been met, even if this means going through some initial extra work upfront!

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Your Quiz Results:

Multiple Results Found!

Best Entity Choice

  • Sole Proprietorship :
  • One Person Company :
  • Private Limited Company :
  • LLP :
  • Partnership :
  • Non Profit Organisation :
  • Public Limited :
  • Producer Company :

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Great Service

When I started my company, the one thing that was hardest for me to find was an affordable registration service. Thankfully, FoundersCart helped with the complete setup at a cost lower than what I expected it would be!
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I'm a big fan of FoundersCart! I've used the CRM to help with my business growth, and it's been a huge help. The tool is super easy to use, and the results have been fantastic. I've seen an increase in conversions and ROI since using FoundersCart, and I wouldn't hesitate to recommend it to anyone looking for to start a business.
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I've been using FoundersCart for a while now and it has definitely helped in my business growth. I highly recommend FoundersCart for anyone looking to grow their business.
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