The definition of a parent company differs by jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner’s personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. Retail business guide Establish your online presence and optimize it to drive product sales.
- The BBC is not responsible for the content of external sites.
- Perhaps you have children of your own and the idea of taking care of a few more for part of the day appeals to you.
- Service business guide Attract potential customers and capture leads