A survey conducted by website hosting business Cyber Host Pro has discovered that not only are small business owners not compliant with GDPR; they’re also unaware of the steps they need to take, with many falsely believing they are ready for the regulations.
Why Has the GDPR Been Drafted?
The General Data Protection Regulation has been brought into place to address concerns that companies are misusing data they have collected from consumers, with many aspects of the regulations targeting SMEs in particular. The GDPR will replace the 1998 Data Protection Act.
According to Elizabeth Denham, the EU’s Information Commissioner: “We’re all going to have to change how we think about data protection. However fast regulation moves, technology moves faster. Especially where data is concerned. When it comes to data protection, small businesses tend to be less well prepared. They have less to invest in getting it right. They don’t have compliance teams or data protection officers. But small organisations often process a lot of personal data, and the reputation and liability risks are just as real.”
Business Surveys Show a Lack of GDPR Compliance
The GDPR affects all companies that store data on EU citizens. To determine if British small business owners were ready for GDPR, Cyber Host Pro conducted a survey of 500 self-employed individuals, CEOs and directors. The results showed:
- 39% believed they were already GDPR compliant
- 61% were not GDPR ready
However, recent reports suggests many corporations don’t fully understand the impact of GDPR. To test this, Cyber Host Pro conducted a second survey, asking business owners confirm if they’d taken essential steps to secure GDPR compliance. The results showed:
- 52% have taken no action to become GDPR ready
- 48% have taken action, but have achieved only partial compliance
- Only 15% of businesses are currently capable of full compliance
24% of Business Owners Falsely Believe They Are GDPR Compliant
The founder of Cyber Host Pro , Chris Danks, gives his thoughts on the survey: “Nearly a quarter of small business owners falsely believe themselves to be compliant with the new legislation, but many have not taken actions that are required for GDPR compliance and don’t actually understand the steps that they need to take. I worry that as many small business owners haven’t started the process of making their website compliant, they haven’t left enough time to achieve this goal before the regulation is implemented. They could face hefty fines if they’re caught mis-using consumer data.”
In fact, £1.7 million was handed out in fines this January. When compared to the £4.9 million that was handed out over the course of of 2017, it’s safe to say that business owners should be concerned and be making the necessary changes to avoid a severe financial impact.
For full details of the data gathered, visit: https://www.cyberhostpro.com/blog/