You’re a startup, there’s lots to consider and sometimes there’s a temptation to push things that may not seem so urgent further down the road to deal with later. The General Data Protection Regulation (GDPR), at a glance, can seem like one of those tasks but the fact is, the longer you leave it, the higher the risk.
So, what is GDPR? In a nutshell, it is a regulation in EU law that focuses on data protection, online privacy and the transfer of personal data outside of the EU. The GDPR holds businesses accountable for how they manage and process the data of citizens within the European Union.
The GDPR applies to all businesses, startups or otherwise, so it is important to ensure that you are following the processes to set out from the get-go. If anything, this is an opportunity. You are at the start of your journey, you do not have a backlog of historic data to sift through nor do you have policies and processes to assess and change. You have a clean slate, a strong foundation to build clear and precise GDPR processes upon.
Businesses also have the option of outsourcing GDPR services to ensure they acquire the expertise to set up correctly, and stay compliant without the wage costs.
What if you decide to forget GDPR until a later date? Well, you leave yourself open to fines of up to 20 million euro or 4% of the annual global turnover of your company, whichever is higher. This may seem like a bigger risk for larger, more mature companies but they may be able to afford the fine whereas start ups, usually, cannot.
Maybe you already have security software and think this might tide you over? Not the case we’re afraid – you can read more about why in our article; Data Privacy vs Data Security, What Is The Difference?
The Benefits of GDPR
There is no such thing as GDPR exemptions for a startup so it is vital to get on board the GDPR train as soon as possible. Use this to your advantage by creating transparent guidelines that will inspire trust in your organisation. Companies with clear and concise GDPR policies are seen as more trustworthy and therefore, more reputable. In fact, an article citing the conversation at a business conference in London quoted experts in saying “GDPR can be viewed as a framework to enable brands to demonstrate competency, honesty, and integrity.”
GDPR is not anti-business but it is forcing us to build a more trusting relationship with our consumers from the very beginning, a golden opportunity, especially for a startup of the GDPR generation.
How To Comply With GDPR As A Startup
GDPR compliance for startups is much the same as it is for an established company, however, it can be more difficult to navigate due to limited resources. That is where outsourcing GDPR responsibilities to a professional body such as Apex can be of benefit.
Apex ensures that your startup is air tight when it comes to GDPR compliance. We are a team of experts who live and breath these processes so we know how to create a successful and sustainable GDPR model suited to your environment.
Wondering if you can just delete all the information you receive and wash your hands of GDPR? Unfortunately, it is not that simple as GDPR also consists of regulations on how to delete data safely in addition to outlining data that legally must be stored.
In short, GDPR compliance is best achieved and more financially viable when outsourced. If you decide to undergo this task yourself it will take a lot of time and effort, and if you decide to employ someone, you are tied into a wage and the ongoing training of your staff member.
What Are The Benefits Of Outsourcing GDPR?
Outsourcing GDPR for startups is not only beneficial to your bottom line, it also ensures you are aware of the latest updates and changes in GDPR policies. As a privacy company, it is our business to be in the know about all things GDPR, and cyber policy related so you can relax, knowing that your processes are always compliant.
GDPR does not become obsolete if you work with clients outside of the EU as the information you obtain may still contain details on EU citizens. You need to expand your area of interest when considering the GDPR and how it impacts your startup. If you outsource your GDPR, this is taken care of for you though we always bring you along on the journey to ensure openness and transparency.
Whether you’re looking at GDPR for sole traders, a limited company or freelance startup you need to take your GDPR seriously. It doesn’t matter if you are researching GDPR and companies with less than 250 employees or with that of 1,000 employees, GDPR startups are all treated the same – you must comply from the very beginning.
Want to learn more about how Apex can help your startup get off on the right foot? Get in touch with us today for a free consultation.