FSB Discovers that Small Businesses Are Set to Suffer As Most are Unprepared for New Data Laws

According to the Federation of Small Businesses (FSB), new data laws are set to affect small firms, as 90 percent are not prepared for the introduction of the incoming rules.

The General Data Protection Regulation (GDPR) comes into force on the 25th May. It is designed to urge businesses to heighten the protection of personal information.

However, the FSB has discovered that 33 percent of small businesses have not even begun preparing, while 35 percent are only in the early stages and only eight percent have already completed their preparations. Other research has indicated that a number of companies are not aware of what they must do.

Mike Cherry, the chair of the FSB, stated: “GDPR is the biggest shake-up in data protection to date, and many small businesses will be concerned that the changes will be too much to handle.

“It’s clear that a large part of the small business community is still unaware of the steps that they need to take to comply and may be left playing catch-up.”

The research found that small firms that are in the arts and entertainment and hospitality sectors are said to be the least prepared, while financial companies are at the other end of the scale.