A single-owner business is one that is owned by one person. It’s distinct from a multi-owner business structure, such as LLC or a partnership which is a form of business, but more structured and taxed differently.
Individual businesses generally don’t have to register with the federal government, though they might require a DBA (doing business as) as well as any required permits or licenses. They are not subject to the corporate tax rules, and they have unlimited liability. A lawsuit against an individual company could cost them everything.
This article looks at a particular type of business model that is under-explored – the business model that is individual. Based on an in-depth longitudinal inductive case study of chef and https://kauai-realtor.com/generated-post-2/ gastronomic innovator Ferran Adria, it identifies the triggers, mechanisms and shifts in his evolving individual business model.