www.bizinfoportal.co.uk/2021/04/23/business-development-strategy-creating-long-term-value/
Personal business refers specifically to activities or things that a person considers private. These may involve side jobs or small-scale ventures pursued by individuals looking to earn additional income. This is usually a good thing as it encourages working-life balance and allows individuals to pursue their passions besides professional activities. This may also be due to family or personal obligations for example, childcare and eldercare.
The legal definition of personal information differs from one data privacy law to the next, but the basic concept is similar: Any data that can identify a household member or a person is considered to be private in nature. This can include basic information such as names, or more sophisticated data like biometric data and geolocation tags. It is crucial for businesses to be aware of personal data so that they can establish safe processes that are compliant with all applicable laws.
In order for any data to be considered to be personal the data must be easily tied to a specific person. It is essential for companies to be clear about the reasons behind collecting this data and get consent prior to collecting it. They must restrict the amount and type of data that they collect and keep it only as long as is necessary.
In the United States, a personal business is one that’s owned and operated by an individual, not an entity or partnership. This means the owners’ personal assets can be used to recover obligations and debts however this isn’t always a good thing for small companies that have limited resources.
