Your Start Up Business And GDPR
GDPR stands for the General Data Protection Regulation, which will be launched in the UK and Europe in May 2018. The GDPR will switch with the 1995 Data Protection Directive, which will affect how all businesses store and share data. The purpose of this different legislation is to harmonize data privacy laws throughout Europe while also giving better security and rights to individuals. This means we will have new rights to access the information businesses hold about us while making these companies handle their data more efficiently.
Start-up businesses usually don’t have the knowledge that comes with an established business, which has meant that many smaller companies have expressed uncertainty about fulfilling the Regulation’s necessities and fully understanding GDPR compliance.
Here’s was your start-up can do to effectively prepare for the GDPR:
Categorise your data
Once you have decided how your business’ data will be affected by regulation guidelines, find out where the data is stored, how it is processed, and how you can access it. This will allow you to create a company-wide policy about handling data.
Choose a point person
You should establish whether or not it will be helpful to appoint a compliance officer to review the constant changes in data privacy laws. Smaller businesses can hire an outside contractor to fill this role. All companies must have a primary point of contact who can address data protection issues. View your contracts
Your third-party vendors must have policies that comply with the regulations. You should know that because you signed a contract in one country, it does not mean your data will be processed there. Understand how your vendors store, process and access your business’ data.
Conduct an analysis
Consult with an expert to understand the GDPR and how they are likely to affect your business. Once you have done this, look at the systems you already have and try to determine weak spots.
Educate the whole team
All employees at your company must be educated about the responsibilities they gain when dealing with personally identifiable or sensitive personal information of employees, customers, partners, and contractors. The whole management team must understand why data protection and the changed required under GDPR needs to be a priority in the budget.