A business that may be owned by simply an individual without a separate legal entity, for instance a partnership or LLC. This form of organization is often started by a single proprietor that has unlimited liability for the business’ monetary. If the business fails or loses a lawsuit, the owner’s personal assets may be taken from him / her. This is the most common type of business for those who wish to work on their own, but it also has some navigate to this site downsides. For instance, the sole proprietor is definitely taxed prove income and losses like they were an employee, and they need to pay taxation on their business earnings on the personal income tax returns. In this posting, Harvard Business Review discusses some of the best types of individuals running businesses and provides tangible procedure for become one. Customer service isn’t always the greatest thing, and Alexander Kjerulf talks about why with this Huffington Content article. It’s a great business article for those who find themselves in the position of coping with customers on a daily basis.