When starting a small business, safety concerns and State, or Federal regulations for your business can be overwhelming. To help your business thrive, here are a few regulations to keep in mind:
- Client’s personal information should always be private and should be an important issue to have. In 2010, The Massachusetts Data Protection Plan created stricter and stronger privacy regulations. It allows businesses that collect and retain personal information from its customers to be seriously implemented. Personal information including social security number, driver’s license numbers, and financial accounts that include debit or credit card numbers can create a huge risk of unwanted private breaches. It is an issue that many small businesses aren’t aware of and should be at the top of their concerns in learning ways to prevent it, by ensuring employees are regularly proceeding with the rules given.
- Computers. Computers can easily be breached and hacked if precautions are not taken. It’s important to follow compliances such as following Windows Update for operating system patches or using daily antivirus software to ensure that your computer system is not functioning as it should, but also being checked for possible malfunctions or breaches.
- Credit Card fraud has been known to be one of the top reasons for identity thefts. As of October of 2016, measures were put into place to increase the use of chip cards, giving customers and clients double security. This change allowed a decrease in the possibility of fraud from issuing banks to merchants who have yet to install EMV terminals.
- 4. The Renovation, Repair, and Painting Rule for Public and Commercial Buildings is a rule that covers residential housing and is now being expanded to commercial buildings. While it is issued to protect people from exposure of lead dust, it’s main concern is towards small business. Small businesses who operate their business outside of their homes, or own the buildings where their business is located can face higher costs as well.