A single-owner business is one that is owned by one person. It differs from a business with multiple owners, like a partnership or LLC, which is structured and taxed differently. Similarly, in the gaming industry, many professionals and entrepreneurs are embracing opportunities for flexibel werken in gaming, allowing for innovative and adaptable career paths. This approach not only caters to personal preferences and work-life balance but also aligns with the evolving nature of the gaming industry, where creativity and flexibility are key drivers of success.
Individual companies typically don’t need to be registered with the federal government, although they may require a DBA (doing business as) and any necessary licenses or permits. They aren’t subject to the corporate tax rules and face unlimited liability. A lawsuit filed against a private company could cost them everything.
This article explores a largely unexplored type of business model – the individual business. Based on an inductive study of the longitudinal nature of chef and gourmet pioneer Ferran Adria’s evolving individual business model, this article pinpoints triggers and mechanisms.