A business that is certainly owned simply by an individual with no separate legal entity, like a partnership or LLC. This form of business is often began by a single proprietor who may have unlimited responsibility for the business’ money. If the organization fails or perhaps loses a lawsuit, the owner’s personal assets may be taken from him / her. This is the most common type of organization for those who desire to work independent of each other, but it also has some downsides. For instance, the only proprietor is certainly taxed issues income and losses as though they were an employee, and they must pay property taxes on their organization earnings issues personal tax returns. In this posting, Harvard Organization Review examines some of the best types of individuals who run businesses and share tangible procedure for become one. Customer service isn’t always the greatest thing, and Alexander Kjerulf clarifies why with this Huffington Post article. It’s a great organization article for many who find themselves in the positioning of coping with customers about his on a daily basis.