A single-owner business is one that is owned by one person. It differs from a structure for business that has multiple owners, like an LLC or partnership, that is a type of business, but it is structured and taxed in a different way.
Individual companies aren’t required to register with the federal authorities, however they may require the use of a DBA or other licenses and permits. They are not subject to the corporate tax regulations and are subject to unlimited liability. A lawsuit against a single company could cost them everything.
This article examines a specific type of business model that is https://kauai-realtor.com/ not widely explored – the business model that is individual. Based on a comprehensive longitudinal inductive case study of chef and gastronomic pioneer Ferran Adria, it pinpoints triggers, mechanisms and changes in his evolving individual business model.