Starting an Online Business: A Guide for Entrepreneurs
Thinking of starting a business online? Or perhaps you have a side hustle that’s gaining momentum? You’re not alone. A recent study by FreeAgent revealed that 64% of British adults have plans to start their own business in the future. Similarly, insurance giant Aviva found that one in five people have started a side hustle since 2020.
Despite the current challenges faced by businesses, a new wave of entrepreneurs is emerging, looking to create a new lifestyle or supplement their income. With the power of the internet, launching a venture online has never been easier. In today’s digital age, you can sell goods, skills, and services without the need for a physical storefront.
However, while the internet has revolutionized the way businesses are started and operated, it’s essential to understand that consumer laws and obligations still apply. Ensuring that your online venture complies with the law is crucial to trading fairly, protecting customers, and avoiding penalties for breaching consumer regulations.
To help navigate the complex world of online business regulations, Business Companion, a free online resource published by the Chartered Trading Standards Institute (CTSI) and supported by the Government, has created a comprehensive guide to Starting an Online Business.
The guide covers essential topics such as the differences between selling goods online as a business or an individual, obligations under consumer protection law, and legal compliance requirements. It also helps you determine if you are considered “in business” according to the law and provides guidance on creating terms and conditions for your online operations.
In addition, the guide offers model contract terms for selling to consumers online, ensuring that you comply with consumer protection laws. Whether you’re a small online business or an individual selling through platforms like eBay or Instagram, understanding your legal obligations is crucial as you scale your operations.
Business Companion’s Starting an Online Business guide is available in both website format and as a downloadable PDF booklet. Written in plain English by consumer law experts, this invaluable resource provides quick, reliable, and up-to-date answers to your queries about the nature of your business and legal obligations—all for free.
For additional support, Small Business Pro offers a 24/7 legal and tax line, dedicated expert assistance, and tools to help manage customers, payments, insurance, finance, and HR. Plus, you’ll receive personal well-being benefits to support your entrepreneurial journey.
Whether you’re just starting out or looking to expand your online business, having a solid understanding of consumer protection laws is essential. Stay informed, compliant, and set yourself up for success in the digital marketplace with the guidance provided by Business Companion’s Starting an Online Business resource.
About Business Companion:
Business Companion is a free online resource published by the Chartered Trading Standards Institute (CTSI) with support from the Department for Business, Energy, and Industrial Strategy (BEIS). It offers expert guidance on consumer protection laws to businesses of all sizes and sectors.
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In conclusion, starting an online business can be a rewarding venture, but it’s crucial to understand and comply with consumer protection laws. With the right guidance and resources, you can navigate the legal landscape of online business successfully and build a thriving digital enterprise.