what is a Private Limited Company
What is a Private Limited Company
What is a Private Limited Company? It is a business structure in which a person or a business is set up by the involvement of only a few people. Thus, there are only a few people as the partners of the organization. It is also known as a sole proprietorship or a limited liability partnership.
One should realize that a company will not have an accountant, secretary, bookkeeper, cashier, title and securities manager and a chief executive officer. It is a professional structure that allows a person to be successful in business. The structure allows for lots of benefits like they can have lots of input, they can have a lot of freedom to decide on how their business will operate, they can have many decisions to make about business which in turn will save a lot of time, they can know who to talk to get their problems solved. The best thing about a private limited company is that they have the freedom to set up their own rules, how they want their business to be run, and they also can control how much capital that is going to be used.
The biggest benefit of a private limited company is that they can have all of the rights that one has to other forms of businesses. The Pvt LTD company can have a board of directors who can also be people from different countries. They can be people from any part of the world. The board of directors can be made up of the members of the corporation, of course the person should be known beforehand. In addition, this way, the board of directors can have the chance to meet the CEO who will handle the day to day business of the company. These are just some of the benefits of owning a private limited company.