An individual business is a kind of business that does not possess a legal entity independent from the owner. It is considered the simplest of business click this forms, and is also a great choice for many individuals who are merely starting out. An individual business is normally a sole proprietorship, although can also be a partnership or corporation depending on its mother nature and desired goals. Understanding how to sort out yourself being a sole operator or an individual is important with regards to taxes plus the many other elements of running your company.