Are you considering starting an online business? Or perhaps you have a side gig that is gaining momentum? You’re not alone. Recent research from FreeAgent found that 64% of British adults are planning to launch their own business, while Aviva discovered that one in five individuals have started a side hustle since 2020.
In today’s digital era, many entrepreneurs are turning to online ventures to create a new lifestyle or generate additional income. The internet has revolutionized the way businesses are started and operated, with many ventures requiring no physical storefront to sell products, skills, or services.
Despite the convenience of online business, it’s essential to understand that consumer laws and regulations still apply. Ensuring that your venture complies with the law is crucial to trading fairly, protecting customers, and avoiding penalties for violations.
To help online businesses navigate the complexities of consumer law, Business Companion, a free online resource supported by the Chartered Trading Standards Institute (CTSI) and the Government, has developed a comprehensive guide to Starting an Online Business.
The guide is designed to provide businesses and individuals with a clear and accessible overview of the UK’s consumer and trading laws. It covers topics such as the differences between selling goods online as a business or individual, and the various obligations that must be met under consumer protection law.
One key aspect discussed in the guide is determining whether you are considered “in business” according to the law. A helpful flowchart guides you through different scenarios and outlines the steps you need to take to comply with relevant laws. The guide also includes a FAQ section for quick reference.
Additionally, the guide addresses the creation of terms and conditions, as well as areas of legal compliance that online businesses need to consider. It also provides model contract terms for selling to consumers online, helping businesses ensure they comply with consumer protection laws.
Whether you are just starting out or expanding your online presence, Starting an Online Business is a valuable resource available in both website format and as a downloadable PDF booklet. Written in plain English by consumer law experts, the guide offers reliable and up-to-date information for understanding your legal obligations in the online business world – and it’s completely free.
About Business Companion:
Business Companion is an online resource developed by the Chartered Trading Standards Institute (CTSI) with support from the Department for Business, Energy and Industrial Strategy (BEIS). It offers expert guidance on various consumer protection law issues for businesses of all sizes and across all sectors.
For more information, check out the top five online businesses you can start today.