GDPR for Small Businesses: How to Be Compliant in 2020
To this date, the sum of all fines for GDPR non-compliance surpassed the €360 Million mark. Yet most small businesses all over the world do not fully comply with this regulation. Well known organisations from the UK, such as British Airways and Marriott got fined €202 and €109 Million respectively. Additionally, on the first day that GDPR was implemented Google received a fine of €50 Million for the lack of consent on advertisements in France. By law, fines can reach up to €20 Million, or up to 4% of the company’s yearly revenue, whichever is greater.
The most recent report about European citizens revealed that only 67% of all citizens have heard about GDPR, even though this regulation came into effect on 25 May 2018 - almost 1.5 years ago. This highlights a severe lack of awareness around the General Data Protection Regulation, which is why Market Inspector created an infographic to help small businesses better understand the regulation and to provide actionable tips to prepare themselves for 2020.
Applicability of GDPR
A common reason companies are not GDPR compliant is because they are unaware that this regulation actually applies to their organisation. The truth is that the General Data Protection Regulation applies to all firms that process personal data regarding European citizens.
Types of personal data being processed
Another aspect that small businesses do not seem to be aware of is what type of personal data they are processing. It is important to distinguish what kind of data is being processed because this regulation can affect companies differently.
Personal data is any kind of information that you can use to identify a person. Sensitive personal data, however, relates to the race and ethnicity of an individual, political opinions, religion, physical and mental health data, etc.
In case you want to learn more about the most important aspects of this regulation, and see a 10-step guide to make your small business GDPR compliant in 2020, read Market Inspector’s recent infographic.
Contact Information:
Germans Frolovs, Communication Assistant
Email: gf@market-inspector.co.uk
Phone: +45 70 70 28 70
Market-Inspector is a B2B digital marketplace for businesses and institutions in Europe, that offers them the opportunity to compare quotes and offers from quality suppliers. We deliver a quick, efficient and unique service on a wide range of products, which enables businesses to make more informed decisions. We believe business should run smoothly and we are here to help make sure that happens. That is why we strive to provide your business with only the best, most reliable business to business suppliers.
