A single-owner business is one that is owned by a single person. It’s distinct from a business with multiple owners, for example an LLC https://kauai-realtor.com/how-to-find-the-best-place-to-learn-about-data-rooms-for-real-estate-professionals or partnership, which is a similar kind of business but structured and taxed in a different manner.
Individual businesses aren’t required to register with the federal authorities, but they may require the use of a DBA or other permits and licenses. They are not subject to the corporate tax regulations and are subject to unlimited liability. A lawsuit filed against a private company could result in a loss of everything.
This article explores a largely unexplored kind of business model – the individual business. Based on a longitudinal study of the chef and gourmet pioneer Ferran Adria’s ever-changing personal business model, this article pinpoints triggers and mechanisms.