What percentage of equity must Jim own in each business where he wants to serve as the qualifying individual?

To serve as the qualifying individual in a business, Jim must own at least 20% equity in that business. This requirement ensures that the qualifying individual has a significant stake in the company and is thus more invested in its operations and compliance with regulations. Ownership of 20% not only demonstrates control but also provides a level of commitment to the standards and responsibilities associated with licensing.

Understanding this requirement is crucial for anyone pursuing a contractor license, as it establishes the necessary commitment and accountability expected from individuals in such positions. This percentage aligns with industry standards designed to ensure that those managing a business have adequate control and vested interest in its performance.