12.2 C
London
Monday, September 26, 2022

Here’s how small and medium-sized businesses can keep pace with data privacy laws

Must read

Ian grows into a hurricane as Florida begins evacuations and Cuba braces for potential flooding

Ian strengthened into a hurricane Monday as Florida began ordering evacuations this week and preparing for potential flooding.Tornadoes are also possible late Monday and...

These are the industries ripe for innovation under the Inflation Reduction Act • londonbusinessblog.com

With a month In hindsight, we're getting a better idea of ​​what the Inflation Reduction Act will mean for the US economy and the...

Gently’s store aggregator aims to take the friction out of locating second-hand clothing • londonbusinessblog.com

Samuel Spitz is a used clothing enthusiast, but found that he spent hours searching dozens of resale sites to find certain items and came...

Limit reached – Join the EU Startups CLUB

€147/quarter This option is ideal for companies and investors who want to keep up to date with Europe's most promising startups, have full access...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

In recent years, data breaches have increased at a worrying rate, especially for many small and medium-sized businesses. Unfortunately, SMBs are often more vulnerable to cybersecurity vulnerabilities because they may not have the money or resources to adequately protect their information or respond to a threat when it arrives.

Despite these hurdles, there are many ways SMBs can stay on top of data privacy regulations and protect their data. Below, 14 londonbusinessblog.com Business Council experts shared their top tips for staying on top of your data privacy and making sure your SMB is protected.

1. Rely on SaaS providers

SMBs that lack the resources to build their own infrastructure must rely on trusted partners, such as SaaS providers, to manage data privacy and advise on the latest regulations. Be proactive and ask questions. SMBs also need to build the right data privacy culture, whether through information security awareness programs or data processing best practices. † Caesar Indratraveloka

2. Create a data privacy position

First, appoint someone who is responsible for data privacy. If you are not big enough to have a data protection officer, usually someone from the legal, IT or operations teams can be responsible. Have this person keep track of information published by local authorities and relevant organizations such as the IAPP or space suppliers. Work with a lawyer you trust who can guide you. † Tobias HannMOSTLY AI


londonbusinessblog.com Business Council is the leading growth and networking organization for entrepreneurs and leaders. Am I eligible?


3. Gather a team of privacy experts

Data privacy plays an important role in the day-to-day business of any SMB. Having knowledge and staying GDPR compliant is critical to their success. The need for a team of data guards or privacy experts makes a huge difference to keep these SMEs on the right track. It could also broaden the company’s knowledge base and improve the privacy and business strategy of their customers. † Michael EdeUplift11 Sport

4. Have a committed policy owner

To remain compliant with data privacy regulations, it is important for SMBs to have a committed policy owner. It is also recommended to find the right partners to navigate through changes. By hiring an agency or partner that is focused on compliance as a company, you make changes easier for your internal team. We’ve repeatedly seen companies whose C-suite wanted to comply with privacy laws, but other positions, such as the product, engineering, or marketing leader, made a decision without any awareness of the company’s new privacy focus. † Meg YimMSA Security

5. Centralize information in one system

Data privacy regulations are changing rapidly these years. For an SMB, it can be a huge challenge to follow and implement these new regulations, especially in all markets. My advice is to approach this strategically. Whether expert advice is needed or not, implementation across the organization and all customer-related interactions is paramount and should be centralized in one system. † Jonathan Tjoa Algreen1 people

6. Prevent problems before they happen

Here’s what I see: If you have expertise in data privacy, you educate your employees, discover their mistakes and improve the process. If you are not the person with expertise, hire the right one and organize the new process in your company. Data privacy gaps can cause major problems for the business, so preventing problems rather than solving them is critical. † Ilya ShmidtCareer Player

7. Consider Outsourcing a Privacy Expert

Privacy rules are extremely important to keep up to date and as a SMB it can be difficult to keep up to date as employees can wear many hats. Sometimes it is cost effective to outsource to a company that helps your business stay on top of changes in privacy regulations as it can be a lot for one person in your company. † Alden Cartwright Edelberg and employees

8. Educate Yourself With Free Resources

Data privacy research on NPR or AP is a start. From there it’s great to keep up to date with the news. It would also help to read through textbooks or published works on data privacy to familiarize yourself with it. By doing so, a company can follow laws without being penalized or charged. † Mauricio RoseroM2 Studios

9. Train employees in data security

Data privacy legislation is evolving rapidly. Ensuring legal compliance should be a critical part of any company’s strategy and objectives. We protect our customers’ information carefully and are transparent in every use. We do not operate internationally, but we keep our policies up-to-date with new and changing regulations and train employees on data security. † Jeremy MercerMatador Capital LLC

10. Network with other entrepreneurs

Privacy regulations tend to evolve over time as technologies change and people’s expectations change. One of the best ways to keep up with privacy regulations is to stay on top of your industry. Small business owners who want to stay on top of privacy regulations can network with other business owners and industry experts to understand how things are changing. † Sai KarraBuiltGen

11. Hire a Compliance Officer

It doesn’t have to be internal, there are plenty of companies that offer this as a service. Quarterly reviews are usually fine, but that can vary by industry. Also, SMEs must have a contingency plan in the event of a breach. It can save millions of dollars in the long run. † Chris KillePayment Pilot

12. Sign up for technical newsletters

If you’re not a tech expert, find someone who is. Know your strengths and know the strengths of others. If you want to stay more personally connected, sign up for some tech communities and newsletters. These are great places to start because they always talk about current, new topics and it’s easy to search for past topics. † Blake SchoS&S Rentals Inc.

13. Consult an insurance broker

You need to know and understand your data to better understand how to protect your business. You need to know how communications are sent and received and where breaches can occur. The risk is real and that is why insuring your business is very important. Every company should consult with an insurance broker who understands cyber risks and how privacy regulations affect them. † Matt MalloryMallory Agency

14. Work with a service provider who is familiar with your industry

At Ridge, we work with many different companies, MSPs and consultants. Working with a service provider with an extensive customer base in your industry is often the best way to ensure you’re compliant. If someone thinks that every phase, every process and every value proposition of a company is already known, they will not come up with creative and adaptive solutions to new problems. † Jonathan SeeligRidge

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Ian grows into a hurricane as Florida begins evacuations and Cuba braces for potential flooding

Ian strengthened into a hurricane Monday as Florida began ordering evacuations this week and preparing for potential flooding.Tornadoes are also possible late Monday and...

These are the industries ripe for innovation under the Inflation Reduction Act • londonbusinessblog.com

With a month In hindsight, we're getting a better idea of ​​what the Inflation Reduction Act will mean for the US economy and the...

Gently’s store aggregator aims to take the friction out of locating second-hand clothing • londonbusinessblog.com

Samuel Spitz is a used clothing enthusiast, but found that he spent hours searching dozens of resale sites to find certain items and came...

Limit reached – Join the EU Startups CLUB

€147/quarter This option is ideal for companies and investors who want to keep up to date with Europe's most promising startups, have full access...

The biggest names in quantum startups are part of a new government advisory group to make this happen

Leading startup founders in the quantum computing space have been brought in by the Federal Secretary of Industry and Science, Ed Husic, as part...