Online Businesses Have Additional Legal, Financial Considerations
STATEN ISLAND, N.Y – Businesses come in all shapes, sizes and types, including those that are brick and mortar and/or online.
Setting up your business on the Internet can be a lucrative way to attract customers, expand your market and increase sales.
For the most part, the steps to starting an online business are the same as starting any business.
Victory State Bank suggests you familiarize yourself with the obligations of running an online enterprise before you begin.
Doing business online comes with additional legal and financial considerations, particularly in the areas of privacy, security, copyright and taxation.
Rules and regulations for conducting e-commerce apply mainly to online retailers and other businesses that perform consumer transactions by collecting customer data. However, even if you do not sell anything online, laws covering digital rights and online advertising may still apply to you.
For additional information about how to comply with laws and regulations related to e-commerce, visit the Small Business Administration at http://www.sba.gov/content/setting-online-business.
The Federal Trade Commission (FTC) is the primary federal agency regulating e-commerce activities, including use of commercial emails, online advertising and consumer privacy.
FTC's Online Advertising and Marketing (http://business.ftc.gov/advertising-and-marketing/online-advertising-and-marketing) provides an overview of e-commerce rules and regulations. About Victory State Bank:
VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com .
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