Individual organization

A business that is owned by an individual without a separate legal entity, such as a partnership or LLC. This form of business is often started out by a single proprietor who have unlimited the liability for the business’ obligations. If the business fails or loses a lawsuit, the owner’s personal assets could be taken from her / him. This is the most popular type of organization for those who want to work independent of each other, but it also has its own resource disadvantages. For instance, the sole proprietor can be taxed on the income and losses as if they were a staff, and they must pay income taxes on their business earnings on their personal tax returns. Here, Harvard Business Review discusses some of the best types of individuals running businesses and gives tangible steps to become one. Customer service isn’t really always the great thing, and Alexander Kjerulf talks about why from this Huffington Content article. 2 weeks . great business article for individuals who find themselves in the positioning of coping with customers on a daily basis.