A single-owner hop over to here business is one that is owned by one person. It’s different from a business with multiple owners, such as a LLC or partnership, which is a similar type of business, but structured and taxed in a different way.
Individual businesses aren’t required to register with the federal authorities, but they might require an DBA or other licenses and permits. They’re not subject to the same tax regulations as corporations and are not subject to unlimited potential for liability, which means that any lawsuit brought against an individual business could cost them everything.
This article looks at a particular type of business model that isn’t being explored – the individual business. Based on an in-depth longitudinal inductive case study on chef and gastronomic innovator Ferran Adria, it identifies triggers, mechanisms and changes in his ever-changing personal business model.
Leave a Comment