A single-owner business is one that is owned by one person. It’s different from a multiple-owner business structure, like a partnership or LLC that is a type of business, but more 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 aren’t subject to the corporate tax rules and face unlimited liability. A lawsuit filed https://kauai-realtor.com/generated-post-2 against a private company could result in a loss of everything.
This article looks at a particular type of business model that is not widely explored – the business model that is individual. Based on an in-depth longitudinal inductive study of chef and gastronomic innovator Ferran Adria, the article identifies the triggers, mechanisms, and changes in his transforming personal business model.
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