Individual Business – An Under-Exposed Type of Business Model

A single-owner business is one that is owned by one person. It’s distinct from a multiple-owner business structure, like a partnership or LLC which is a type of business but more structured and taxed differently.

Individual companies typically don’t need to be registered with the federal government. However, they might require a DBA (doing business as) and any necessary licenses or permits. They are not subject to the corporate tax rules, and they have unlimited liability. A lawsuit against an individual company could result in a loss of everything.

This article examines an under-explored type of business model namely the individual business. Based on a comprehensive longitudinal study of the https://kauai-realtor.com/generated-post-2 inductive case study of chef and gastronomic pioneer Ferran Adria, the article identifies triggers, mechanisms, and modifications in his evolving individual business model.