Personal business refers to activities or other matters that an individual considers private. These may involve side jobs or small-scale enterprises run by individuals for extra income. This is often a good thing, as it promotes work-life balance and permits people to pursue their passions besides professional pursuits. It can also relate to family matters or personal responsibilities for eldercare or childcare.
The legal definition can differ from one privacy law to the next but the principle is the same: All information that identifies an individual or household is considered personal. This can range from basic details such as names, to more complex information such as geolocation tags, or biometric data. It is vital for companies to be aware of personal data so that they can develop safe processes that conform to all applicable laws.
Data must be able to be linked to a specific individual in order to be considered as personal. Businesses must be transparent about their intentions when they collect data and seek consent prior to doing so. They must restrict the amount and types of data that they collect and keep it only for as long as is necessary.
In the United States a personal business is a company that is run and controlled by a person, not when it’s incorporated or a partnership. This means that the personal assets of owners are used to pay off the debts or liabilities. This isn’t the best option for small businesses with limited resources.
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