A single-owner business is one that is owned by one person. It is different from a structure for business that has multiple owners, for example a partnership or LLC, 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 government, but they blog link might require an DBA (doing business under the name of) and any licenses or permits. They aren’t subject to the corporate tax rules and have unlimited liability. A lawsuit against an individual company could cost them everything.
This article focuses on an under-explored type of business model: the individual business. Based on an inductive study of the longitudinal nature of the chef and gourmet pioneer Ferran Adria’s ever-changing personal business model, this article identifies triggers and mechanisms.