Benefits of One Person Company in India

Benefits of One Person Company in India

The Companies Act, 2013 completely changed the business structure and corporate laws in India by introducing new concepts like One Person Company. The concept of a single member company is very helpful for small traders, service providers to gain corporate identity and expand their opportunities in the market.

One Person Company (OPC) is a business entity whose shareholders can access the target market directly and avail bank loans, credit facilities, without having to share profits with middlemen. It also provides legal protection of the business and is thus a boon for a number of budding entrepreneurs in the corporate world.

Limitation of Liability

Limited liability of an OPC is a major advantage as it protects the personal assets of an entrepreneur. This can help him avoid heavy losses and liabilities which would be otherwise incurred by the business.

Low investment

Incorporating a One Person Company can be very beneficial for the small entrepreneurs as it is relatively cheap to get started. It requires minimal investment and can be easily raised from Angel investors, venture capitals, or financial institutions.

Sense of Belonging

The owner of the company is responsible for all the affairs/matters of the business and is the most powerful authority. This gives the owner a sense of belonging which motivates him to grow his business further.

Besides, it is easier to make a quick decision and manage the business by following no elongated processes or methodologies which are adopted in other businesses. It is also beneficial in controlling and managing the business as it is a single mind business.

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