Will Your Small Business Be Affected by GDPR?
GDPR is relatively confusing, especially if you’re a small business and you’re unsure of how this might affect you. If you either work in the European Union or offer services or sell goods to the EU citizens, then you will be expected to comply. So, it helps to understand the ins and outs of this new legislation and how it might affect your business approach. For those of you who are just now hearing about GDPR for the first time, here is a basic overview:
What is GDPR?
The GDPR or General Data Protection Regulation is a new set of guidelines that will affect all entities (individuals and businesses alike) that deal with consumer data. It will become effective on May 25, 2018. Complying with these new guidelines is a must, especially if you’re a company that gathers this data for any reason. The regulations aim to ensure the security, safety, and privacy of everyone, and most would say that this sort of thing has been a long time coming.
GDPR determines what information a company can handle and collect, as well as how it should be stored or even used, and the guidelines are fairly stringent. If this legislation applies to you in any way, be sure that your business complies. The implications of noncompliance could be quite severe, which brings us to our next point.
What does this have to do with my small business?
Any business that has ever collected user data without the user’s permission will no longer be permitted to do so. The business now has to have full consent and a clear opt-in from the user. The opt-in must not be confusing at all and must expressly state what the information is used for and how long this information is going to be stored for. Moreover, when a business wishes to use the data outside of what they put on the opt-in, they must ask the user to provide permission for this separately.
As you can see, there are several other small details that are involved in the GDPR. What’s more is that the legislation is bound to evolve over time. It’s going to be quite difficult for most small businesses to keep up.
So, if you collect information from users on a wide scale, working with an experienced data security team is highly recommended. It’s truly the only way to ensure your business is 100% compliant and to mitigate the risk of lofty fines and penalties should you be found non-compliant.
This is all very beneficial to the general public. After all, we all want to keep our information private and ensure that it is not wrongly used. Many companies, however, (even the smaller ones) are going to begin feeling the effects of these new guidelines. Although many businesses thought it only pertained to larger businesses and corporations, anyone that is doing business in or with someone from EU must comply with the new guidelines.
Are you wondering how GDPR is going to affect your business? If you’re unsure, it’s always best to err on the side of caution. Contact us to speak with one of our data security experts.