Individual Business – An Under-Exposed Type of Business Model

A single-owner business is one that is owned by a single person. It’s different from a multi-owner business structure, like an LLC or partnership that is a type of business but more structured and taxed in a different way.

Individual businesses aren’t required to register with the federal how to make a board work government, although they might require a DBA (doing business as) as well as any required licenses or permits. They’re not subject to the same tax regulations as corporations and are exempt from potential for liability, which means that a lawsuit brought against a private company could cost them everything.

This article looks at a particular type of business model that isn’t being explored – the individual business. Based on an in-depth longitudinal inductive study of chef and gastronomic pioneer Ferran Adria, it identifies triggers, mechanisms and changes in his evolving individual business model.

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