Individual Business – An Under-Exposed Type of Business Model

A single-owner business is one that is owned by a single person. It’s distinct from a multiple-owner business structure, such as a partnership or LLC, which is also a form of business, but more structured and taxed in a different way.

Individual businesses generally don’t have to register with the federal government, although they may require an DBA (doing business under the name of) and any licenses or permits. They’re not subject to the same tax regulations as corporations and are exempt from liability, which means that a lawsuit filed against an individual company could cost them everything.

This article focuses on an under-explored type of business model namely the individual business. Based on a longitudinal study of chef and pioneer of gastronomy Ferran Adria’s evolving individual business https://kauai-realtor.com/generated-post/ model, this article examines triggers and mechanisms.