A promoter is called parent of the co'. Do you agree? Give reason to support ur answer
Yes, I agree with the given statement. This is because a promoter is a person who undertakes all the major responsibility during the formation and perpetuance of a company. He/She initiates the process of formation of company by developing the idea of business. After that, the promoter analyses all the pros and cons attached with the particular idea. Besides analysing, the promoter arrange and organise all the factors of production (land, labour, capital, entrepreneurship) under one roof. He also approaches the company of registrar and obtain all the necessary certificates, license and permits required for the commencement of the company. Moreover, a promoter also decides the name of the company.