A single-owner business is one that is owned by a single person. It’s distinct from a business with multiple owners, like a partnership or LLC which is a comparable type of business but structured and taxed in a different way.
Individual companies aren’t required to register with the federal authorities, but they may require an DBA or other licenses and permits. They’re not subject to the same tax laws as corporations and are exempt from liability, which means a lawsuit brought against a private company could cost them everything.
This article looks at a particular type of https://kauai-realtor.com/how-to-make-a-board-work business model that has been under-explored – the individual business. Based on a longitudinal inductive study of the chef and gourmet pioneer Ferran Adria’s ever-changing personal business model, this article pinpoints triggers and mechanisms.
