Lifestyle Business Law and Legal Definition
Lifestyle businesses are small business reflecting the general lifestyle of an individual entrepreneur. Lifestyle businesses are not high-growth initiatives. It aims to sustain a particular level of income. The principal objective is to provide a foundation to enjoy a particular lifestyle. For example, a sign-painting business and a resume-writing business.
The advantages to starting a lifestyle business include:
being able to control most aspects of the business;
having a positive cash flow from early in the business’ growth; and
being able to pursue personal goals with profits from the business.
Legal Definition list
Related Legal Terms
- Affected Item of Business
- Affiliated Business Arrangement
- Agribusiness
- Alternative Fuels Business
- Awarding Agency [Business Credit and Assistance]
- Base Closure Area [Small Business Administration]
- Better Business Bureaus
- Bill of Sale (Business)
- Branch or Additional Business Facility [Agricultural Marketing Service]
- Bureau of Economic, Energy, and Business Affairs [EEB] [Department of State]
