9 in 10 SME owners don’t know the new rights GDPR gives to consumers, new study reveals

Despite the influx of information addressing GDPR regulations and subsequent consumer rights, a recent investigation reveals most UK SMEs are still in the dark when it comes to compliance:

9 in 10 small business owners DON’T know the new rights that GDPR gives to consumers, according to a new survey of 500 small business owners conducted by insurers Hiscox UK. This can be detrimental to the survival of businesses. Businesses who are worried about their potential non-compliance of the GDPR legislation should contact a gdpr and brexit guidance consultant to help them avoid any issues; find out more here.

The recent investigation into SME owners’ GDPR compliance awareness uncovered:

  • 39% small business owners don’t know who GDPR affects
  • 1 in 10 respondents don’t think GDPR gives consumers any new rights
  • GDPR voted amongst the ‘Top 3 Most Annoying Things online in 2018’ (alongside PPI phone calls and website pop-ups)
  • 96% of small business owners don’t know the maximum fine for breaching GDPR

Considering the perpetual lack of information on the matter, Lead Cyber Underwriter Stephen Ridley (Hiscox UK) shares expert advice on how businesses should process customer data under the new regulations.

Please see the full insights into the new research and expert advice here: https://www.hiscox.co.uk/business-blog/gdpr-still-mystery-smes-risks-non-compliance/

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