Which is best partnership firm or Pvt Ltd or LLP? If I want to register a marketing business in Punjab with my friend or relative?
When you want to start a Business with the Partners then definatly you have 3 Option like Partnership firm or LLP or Private limited Company.
Now Question is How to Choose the Right Legal Entity. Its all depend on your vision and business structure. Everyone say that if you want to raise the funding from the angel investor or VC Firms then go with the Private limited Company but startups don’t know about that Private limited Company is very expensive not just in terms of Registration Cost, even for the maintenance.
Best thing is If you want to testing your Ideas in the starting then just go with the Partnership Firm even without the Registrar of Firms. Just Draft your Deed and Pan Card & open a current bank account.
On Later stage you can convert into the Private limited Company or LLP.
Another Option is LLP that is simply mixture of the Partnership firm and Private limited Company so if your vision is just need limited liablity in the business then go with the LLP or else last option go with the Private limited Company for the long terms visions.
Below is the Conclusion and Source for the Starting a Digital Marketing Agency or Marketing Business in India.
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