Personal business refers to any kind of activity or matter that a person thinks of as private. They may also involve other jobs or small-scale ventures pursued by individuals looking to earn additional income. This is usually a great thing as it encourages working-life balance and allows individuals to pursue interests outside of their professional activities. This could also be related to family or personal responsibilities like childcare and eldercare.
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. It can range from simple details like names to more sophisticated information like geolocation tags or biometric data. It’s important for businesses to understand personal information so they can develop safe processes that conform to all applicable laws.
Data must be tied to a specific individual in order to be considered as personal. It is essential for companies to be clear about the purposes for collecting data and seek consent before doing so. Businesses should limit the type and quantity of data they collect and keep it for the time that is needed.
In the United States, a personal business is one that is owned and operated by an individual rather than an entity or partnership. It means that the personal assets of owners are utilized to settle debts or liabilities. This isn’t always a good idea for small companies with limited resources.