One Person Company (OPC) allows entrepreneurs to start their own venture by allowing them to create a single person company. Since, no intervention from any third party is seen, it makes it more beneficial. Being an entirely new concept in India, the One Person Company is expected to cause a huge impact on the economy and development of nation. Being more advantageous, it can be considered as liable improvement of sole-proprietorship.
The One Person Company provides an immense potential for a lone Entrepreneur. But it has some limitation, as in the case of, if the turnover of the company exceeds more than an amount of 2 crores in Indian Rupees, then the company has to be converted into a Private Limited as per the government norms.