To many, conversion of a private limited to OPC won’t make sense. And why would it? It’s like trading a yacht for a canoe. A private limited company has partners, a structure, and you have something to fall back on. And in an OPC, you have none of that. However, in this era of solo entrepreneurs, people are still running towards One Person Company Registration. If you have wondered about the answer, you have it now.
A private limited company might as well be the eighth wonder of the world. The limited liability, the multiple partners, and the other goodies it has make it the business entity of choice for many entrepreneurs. However, there is a trend coming into notice in recent times. Many are moving away from a Private limited company and embracing an OPC. Why is that the case?
The reasons are simple. And you’ll know about all of them here, in this blog.
Nothing can compare to the sense of freedom of a One Person Company
In a One Person Company, you are more or less, free. Yes, you have to work according to the regulations mentioned in the limited company rule book. However, times are changing. People are now more willing to convert to a One Person Company by choice. Their reason is simple. The sense of freedom it provides has no comparison.
As the director of an OPC, you are the company itself. Every decision that you make rest upon your shoulders and it’s your desires that pushes the company forward. Furthermore, as there is no one around to stop you, you can make any business decision that you want. Now, whether or not that decision will benefit your company is of consequence, what is of note here that all the decisions are made by you. You get the first and the last say in everything.
And, it’s you who can completely push the company in a successful direction.
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The people are becoming more cynical with each passing day
All the people in this world are becoming more cynical with each passing day. Their lack of trust imprints the way they do business. Are they wrong? No. A One Person Company provides them the chance to not rely on anyone. Instead, they can leverage their own wisdom and skills to make business decisions. In many circles, such a way of doing business is frowned upon.
However, that’s the way of doing business to actually moving in the direction you want. So, if you trust your intellect more than anyone. And, the only person you trust is yourself, choose a One Person company.
Conclusion
Granted that there are not many reasons to convert private limited to OPC, but all of them are quite crucial. You need to trust only yourself if you have an unorthodox way of doing business. Relying on others in such case is nothing less than willingly sabotaging your business.
So, if you’re ready to take a stand and start your own company – a One Person Company – just take it. Don’t worry about the consequences. Focus instead on your dreams and your desires to move forward on your own terms.
For more information, contact Registrationwala.