www.bizinfoportal.co.uk/2021/04/15/identifying-the-business-finance-function-you-may-have/
Personal business refers to the activities or things that a person considers private. These could be small businesses or side jobs that people pursue to earn an extra income. This is usually a positive thing as it encourages working-life balance and allows individuals to pursue interests outside of their professional activities. It also might relate to family affairs or individual responsibilities such as eldercare and childcare.
The legal definition of personal information is different from one privacy law to the next, however the general concept is consistent any information that could identify a household or individual should be considered personal in the sense that it can be considered personal in. This can include basic information such as names, or more complex information like biometric and geolocation tags. Businesses must be aware of personal information to ensure that they are in compliance with all applicable laws.
Data must be linked to a specific individual in order to be considered as personal. It is crucial for businesses to be clear about the purposes for collecting this information and obtain consent prior to collecting it. Businesses should limit the kind and amount of information they collect and keep it for as long as is necessary.
In the United States, a personal company is one that’s owned and operated by an individual, not an entity or partnership. This means that the owner’s personal assets can be used to recover liability and debts however this isn’t always a good thing for small companies that have limited resources.