A business that is owned by simply an individual with no separate legal entity, for instance a partnership or perhaps LLC. This type of business is often began by a bottom proprietor that has unlimited liability for the business’ debt. If the business fails or perhaps loses a lawsuit, the owner’s personal assets can be taken from him or her. This is the most frequent type of business for those who want to work independent of each other, but it also has its own disadvantages. For instance, the only proprietor is normally taxed troubles income and losses as though they were an employee, and they must pay income tax on their business earnings very own personal income tax returns. In this posting, Harvard Business Review discusses some of the best types of individuals who run businesses and provide tangible steps to become one. Customer service basically always the greatest thing, and Alexander Kjerulf explains why with this Huffington Post article. It’s a great organization article for individuals who find themselves in the positioning of coping with customers Resources on a daily basis.