Individual Business – An Under-Exposed Type of Business Model

A single-owner business is one that is owned by a single person. It’s different from a multiple-owner business structure, like LLC or partnership, which is also a type of business, but more streamlined and taxed in a different manner.

Individual businesses aren’t required to be registered with the federal government, though they may require a DBA (doing business under the name of) as well as any required licenses or permits. They aren’t governed by the corporate tax regulations and are subject to unlimited liability. A lawsuit brought against a company’s individual could result in a loss of everything.

This article looks at a particular type of business model that isn’t being explored – the business model that is individual. Based on a detailed longitudinal https://kauai-realtor.com/make-ma-deals-easier-with-electronic-data-rooms-tools inductive study of chef and gastronomic innovator Ferran Adria, the article identifies the triggers, mechanisms, and changes in his ever-changing personal business model.