Individual Business – An Under-Exposed Type of Business Model

An individual business is a company that is owned by one person. It is different from a business structure with several owners, such as an LLC or partnership, which is a comparable type of business, however it’s structured and taxed in a different manner.

Individual companies typically don’t need to register with the federal government, though they may need an DBA (doing business as) and any click this link here now necessary licenses or permits. They aren’t governed by the corporate tax rules, and they have unlimited liability. A lawsuit against a single company could result in a loss of everything.

This article focuses on a kind of business model that has been under-explored – the individual business. Based on an inductive study of the longitudinal nature of chef and gourmet pioneer Ferran Adria’s ever-changing personal business model, this article pinpoints triggers and mechanisms.