A business with one owner is called a sole proprietorship and it must be a service business.

Name: A business with one owner is called a sole proprietorship and it must be a service business.
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Quizplus · Accepted Answer

A business with one owner can be structured as a sole proprietorship or as a single-member LLC (limited liability company). Additionally, both service businesses and businesses that offer products can be structured as sole proprietorships or single-member LLCs.

A Business with One Owner Is Called a Sole Proprietorship