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Message: Return type of CI_Session_files_driver::close() should either be compatible with SessionHandlerInterface::close(): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::read($session_id) should either be compatible with SessionHandlerInterface::read(string $id): string|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
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Message: Return type of CI_Session_files_driver::destroy($session_id) should either be compatible with SessionHandlerInterface::destroy(string $id): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
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Registering a business especially as a Private Limited or an LLP (preferred choice of entrepreneurs) enables a smooth functioning of the startup / business.
Why do most of the startups register themselves?
For creating a Separate Legal Entity with Limited Liability and Perpetual Succession. (as in the case of a Pvt. Ltd. and LLP)
The liability of the shareholders is Limited to their Shareholding. It can buy and sell property, enter into contracts, sue or be sued upon in its own name. The death, insanity, incapacity or insolvency of its shareholders and/or directors does not affect the existence or business of the Company in any way.
To raise Seed or Venture Capital (Only Pvt. Ltd.) - several several startups register a Pvt. Ltd. with the aim of raising funds from VC’s.
To issue ESOP's to your employees. (Pvt. Ltd. only)
Issuing of Sweat Equity Shares (ESOP’s) to deserving employees in order to retain and reward them. Post issue of equity shares, the employees become part owners. It’s extensively used by Companies such as Infosys, TCS, Facebook, Google etc. to retain their employees and attract talent.
It’s a Traditional or Brick & Mortar Business and not wishing to raise funds. (LLP)
Also,
Company Incorporation Procedure has been streamlined and one can now form a company in just one single day. Incentives such as this coupled with the government’s startup offers has resulted in more registrations.
LLP is a concept that has been gaining traction in the recent times. As of 3rd June, 2017 a Total of 96020 LLP’s have been registered in India.
We recommend incorporating as soon as one decides to start a business that has potential and / or after having effected a certain amount of sales.
It becomes easier to approach potential customers apart from friends and family.
It adds credibility and companies prefer working with Pvt. Ltd. Companies and LLP’s.
