Whether it is from a garage, living room or use the back of a taxi, these individuals are building successful firms from the ground up. These successful trailblazers have shown that resourcefulness and purpose can go far in business. An individual business may be a legal framework that allows a single owner to work a company without requiring registration considering the state or obtaining an EIN from your IRS. One of the Resources main benefits of an individual business is normally simplicity, but the drawbacks consist of unlimited the liability (all financial obligations of the business pass through to the owner) and funding can be harder to come by.