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 also a type of business, but more structured and taxed differently.
Individual businesses aren’t required to be registered with the federal government, but they may need a DBA (doing business under the name of) and any required licenses or permits. They aren’t governed by the corporate tax regulations and are subject to unlimited liability. A lawsuit against a single company could cost them everything.
This article focuses on an under-explored https://kauai-realtor.com/generated-post-2/ type of business model: the business model that is individual. Based on a comprehensive longitudinal inductive study of chef and gastronomic pioneer Ferran Adria, the article identifies triggers, mechanisms and changes in his own evolving business model.