A single-owner business is one that is owned by one person. It’s distinct from a multi-owner business structure, like LLC or a partnership which is also an entity, but more structured and taxed differently.
Individual businesses typically don’t have to be registered with the federal government, but they might https://kauai-realtor.com/generated-post-2 require an DBA (doing business as) and any necessary permits or licenses. They aren’t subject to the corporate tax rules and face unlimited liability. A lawsuit brought against a company’s individual could cost them everything.
This article focuses on an under-explored type of business model – the business model that is individual. Based on a longitudinal study of chef and gourmet pioneer Ferran Adria’s evolving individual business model, this article examines triggers and mechanisms.
