A single-owner business is one that is owned by a single person. It’s distinct from a business structure that has multiple owners, such as an LLC or partnership, which is a similar kind of business, but it is structured and taxed in a different way.
Individual businesses aren’t required to register with federal authorities, however they may require the use of a DBA or other permits and licenses. They’re not subject to the same tax regulations as corporations and have unlimited liability, which means that a lawsuit against an individual business could end up costing the company everything.
This article looks at a particular type of business model that is under-explored – the business model that is individual. Based on a longitudinal, inductive https://kauai-realtor.com/make-ma-deals-easier-with-electronic-data-rooms-tools/ study of the chef and pioneer of the gastronomic world Ferran Adria’s evolving individual business model, this article examines triggers and mechanisms.