What are Your Privacy Obligations as a Business Owner?
Am I required to have one?
1. Annual turnover exceeding $3 000 000
2. Medical Practice
If your business is a health service, such as medical practitioners, pharmacists or are allied health professionals you would be required to engage in the policy. Particularly because in this field, information such as personal illnesses or hereditary issues might be highly private information to clients.
3. Government Agency
A government agency could include a Commonwealth contracted service provider. Some examples could include Australia post, Cancer Australia, National Blood Authority etc.
As such, if you fall into one of the three categories described you are officially required to undertake privacy policies.
Most small businesses are unlikely to fall within any of the categories listed above, however we still highly recommend it – continue reading to find out why.
Why do I need one?
Start by thinking from your customers’ perspective:
Everyone has privacy concerns especially in these current times of rapid technological advancements and with the prevalence of social media sites and online shopping, privacy and confidentiality has become more of a concern than ever.
Particularly with the increase of available data online, there is an increased potential of fraud or identity theft.
Appreciating customer concerns:
From your perspective, as a small business owner, voluntarily incorporating such a policy would do wonders for the company image. It will easily ensure that customers have faith and confidence in the system, not having to worry about what will happen with their information. In turn, this will surely bring more business through your doors!
So whilst it is not technically required by law for most smaller businesses to engage in these practices, it would be highly recommended to do so to increase customer faith, with little time and monetary expenditure.
Anthony is a Paralegal at Lawpath. Pursuing his interest for Insolvency and Commercial Law, he is currently completing his third year of a combined degree in a Bachelor of Laws/Bachelor of Commerce at University of New South Wales.