{"id":3467,"date":"2017-09-22T11:01:30","date_gmt":"2017-09-22T11:01:30","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=3467"},"modified":"2020-02-27T09:01:13","modified_gmt":"2020-02-27T09:01:13","slug":"less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/","title":{"rendered":"Less Than One in Ten Uk SMS Bosses Understand New Data Protection Regulations"},"content":{"rendered":"<ul>\n<li><strong>Nearly half (46%) of at small and medium sized business owners have not heard of the EU General Data Protection Regulation;<\/strong><\/li>\n<li><strong>More than a fifth (22%) of SMEs and their customers have been affected by data breaches in the past two years;<\/strong><\/li>\n<li><strong>The majority (55%) of UK SME leaders are concerned about cybercrime and the impact it might have on their business;<\/strong><\/li>\n<li><strong>Only a third (34%) of UK SME bosses say that protection against cyber crime is a high priority for their business and that they have taken steps to protect themselves.<\/strong><\/li>\n<\/ul>\n<figure id=\"attachment_3469\" aria-describedby=\"caption-attachment-3469\" style=\"width: 800px\" class=\"wp-caption alignnone\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-3469\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2017\/09\/data-protection.jpg\" alt=\"\" width=\"800\" height=\"480\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/09\/data-protection.jpg 1500w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/09\/data-protection-300x180.jpg 300w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/09\/data-protection-768x461.jpg 768w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/09\/data-protection-1024x614.jpg 1024w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-3469\" class=\"wp-caption-text\">Less Than One in Ten Uk SMS Bosses Understand New Data Protection Regulations<\/figcaption><\/figure>\n<p>The latest Aldermore small and medium sized business owners (SMEs) Future Attitudes study today reveals that less than one in ten (9%) SME owners in the UK fully understands what the forthcoming EU General Data Protection Regulation (GDPR) actually means for their business or have taken the appropriate steps to prepare themselves for it.<\/p>\n<p>The new framework, which is designed to strengthen and unify data protection for all individuals within the European Union (EU), will hand out tough punishments for those who fail to comply with new rules around the storage and handling of personal data.\u00a0 The regulation comes into force in May 2018, but nearly half (46%) of all SMEs bosses, representing more than 2.5million firms* in the UK have not even heard of it.<\/p>\n<p>Furthermore, the GDPR will also introduce a duty on all organisations to report certain data breaches to the relevant supervisory authority and in some cases to the individuals affected, as well as giving customers the right to be forgotten which requires firms to erase all their information. This is a considerable step change and will affect many small and medium-sized organisations, particularly as recent industry figures** show that two thirds (66%) of SMEs have been a victim of cyber crime since their launch.<\/p>\n<p>With data breach threats becoming an ever-growing concern for business leaders, Aldermore\u2019s report, which surveyed over a thousand senior decision makers across the UK, reveals that more than a fifth (22%) of SMEs and their customers have been directly affected by a data breach in the past two years. More than half (55%) of business owners are concerned about cyber crime and the impact it might have on their firms, a further two in five (39%) SME bosses also anticipating that a cyber attack could have a significant financial impact on their business.<\/p>\n<p>Surprisingly only a third (34%) of businesses see protection against cyber crime as a high priority and have taken steps to protect themselves, considering cyber-crime can involve something as simple as having business emails hacked and subsequent data stolen or intercepted. A further fifth (22%) realise it is an important issue but haven\u2019t found the time to look into appropriate safeguards, with a further one in ten (12%) saying that they cannot afford to shield themselves adequately.<\/p>\n<p>What is more surprising is that a quarter (25%) business owners say protection against cyber attacks is not an important issue for their businesses. The research also reveals that only a half (49%) of UK SMEs currently have data breach policies in place around the use of email, internet and mobile devices.<\/p>\n<p><strong>Carl D\u2019Ammassa, Group Managing Director, Business Finance at Aldermore, said:<\/strong><\/p>\n<p>\u201cThe GDPR is the biggest shake-up in data protection to date and the results are worrying when looking at the amount of businesses that are unaware of the impact it will have on them. Data privacy, the appropriate use of customer information and breach notifications all need to be taken incredibly seriously.\u00a0 This is made especially apparent when one considers the increased sanctions businesses face if they don\u2019t keep to the new regulations, include regular data protection audits, and fines of up to \u00a320 million or 4% of their annual turnover for the most serious violations.<\/p>\n<p>\u201cMoreover, we hope the EU\u2019s new regulation achieves what it sets out to do and strengthens the resistance of businesses against the threat of a data breach. SMEs need to be clear on the use of customer information, ensure they are GDPR ready as soon as they can be and are aware of the impact this will have once it comes into effect in May next year.<\/p>\n<p>\u201cThe danger of cyber attacks for all businesses, not just SMEs, is an ever present one and is something that is likely to increase as economic activity moves to the digital world. With these attacks having a significant financial and reputational impact on a business, it is crucial all SMEs take adequate time to analyse and protect themselves against this threat.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nearly half (46%) of at small and medium sized business owners have not heard of the EU General Data Protection Regulation; More than a fifth (22%) of SMEs and their customers have been affected by data breaches in the past two years; The majority (55%) of UK SME leaders are concerned about cybercrime and the [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":3469,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[25],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v19.7.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Less Than One in Ten Uk SMS Bosses Understand New Data Protection Regulations - OpenBusinessCouncil Directory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Less Than One in Ten Uk SMS Bosses Understand New Data Protection Regulations\" \/>\n<meta property=\"og:description\" content=\"Nearly half (46%) of at small and medium sized business owners have not heard of the EU General Data Protection Regulation; More than a fifth (22%) of SMEs and their customers have been affected by data breaches in the past two years; The majority (55%) of UK SME leaders are concerned about cybercrime and the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/\" \/>\n<meta property=\"og:site_name\" content=\"OpenBusinessCouncil Directory\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-22T11:01:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-27T09:01:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2017\/09\/data-protection.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hernaldo Turrillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hernaldo Turrillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/\"},\"author\":{\"name\":\"Hernaldo Turrillo\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\"},\"headline\":\"Less Than One in Ten Uk SMS Bosses Understand New Data Protection Regulations\",\"datePublished\":\"2017-09-22T11:01:30+00:00\",\"dateModified\":\"2020-02-27T09:01:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/\"},\"wordCount\":777,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.footballthink.com\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/\",\"url\":\"https:\/\/www.footballthink.com\/less-one-ten-uk-sms-bosses-understand-new-data-protection-regulations\/\",\"name\":\"Less Than One in Ten Uk SMS Bosses Understand New Data Protection Regulations - 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