An individual business is a business that’s controlled by one individual. It’s different from a multi-owner business structure, such as LLC or partnership, which is also a form of business, but more structured and taxed in a different way.
Individual businesses typically don’t have to register with the federal government. However, they may need a DBA (doing business as) as well as any required licenses or permits. They’re not subject to the same tax laws as corporations and have unlimited liability, meaning that a lawsuit against an individual business could cost them everything.
This article explores a type of business model that is not widely explored – the individual business. Based on a longitudinal https://kauai-realtor.com/technical-writing-and-technical-disciplines/ inductive study of the chef and gastronomic pioneer Ferran Adria’s ever-changing personal business model, this article pinpoints triggers and mechanisms.
