Several factors can influence the future success of a startup. You may not think this way, but having data protection and cyber security programs from the beginning of your business journey is one of the ways you can avoid future headaches. With this blog post, we’ll introduce you to the connection between cyber security and GDPR for startups and provide you with some tips on getting your business compliant.
Why Cyber Security and GDPR are Important for Startups?
Cyber Security and GDPR initiatives help you avoid data breaches. It is your startup’s responsibility to ensure that user, partner, or customer data and information is safe and secure. You, the individual, the managers, the employees, the entire company are responsible in the event of a security breach. It can have serious consequences for your business. Breaches always seems to happen at the most inconvenient time, and you never know when they can happen. However, a proper plan will help you manage it with little disruption to your business.
Cyber Security and Data Protection Can Affect Customer Perception and Business Growth
Since 76% of B2B tech buyers engage in extra product research due to data security concerns, according to Statista. By integrating smart cyber security and data protection planning into your business strategy, you will invest in your company’s future. If you have a plan in place, you can show your investors, partners, and customers that you have taken steps to ensure that your entire business is as secure as possible and can be trusted.
The GDPR ushered in a new era of data protection regulation, introducing heavy fines for transgressors and establishing a real emphasis on data protection best practices. Over the past two years, the EU has demonstrated that GDPR is here to stay, and compliance with these best practices is essential.
Additionally, these regulations provide a framework for companies that are looking for new service providers. When searching for a new service provider, many companies pay attention to the company’s security approach and data protection policies. If you want to be considered by them, you must demonstrate compliance.
The Most Cost-effective Way for Startups to Avoid Non-Compliance and Cyber-Risks
To understand that the traditional approach of relying on antivirus, firewall, and anti-spam software tools along with manually managing data is becoming less and less effective. As a startup, you are often faced with the issue of prioritizing and balancing your limited resources. Therefore startups must invest in cyber security and GDPR compliance program early and strategically. To apply data security and protection to your business strategy, you should follow the steps below.
01. Perform a GDPR Assessment and a Cyber Security Risk Assessment
Assess you systems for security vulnerabilities and create plans to remediate them. To do so, you can either designate the task to an internal IT specialist focused on cyber security or hire outsource the help of a cyber security specialist. Also, investing in GDPR compliance when it applies to your business is always a smart move considering it is the most complete data protection regulation in the world, complying with it is a big step to comply with other data protection laws as well.
To know if the GDPR applies to your business, click here.
02. Create your cyber security and data management policies
Once you have your systems network information and your data gap analysis in hand, creating policies from the outset will help your tech teams and overall employees to take a proactive approach towards data management and security.
Always Invest in Staff Awareness Training
To create a culture of data security and protection, you need to invest in staff compliance and cyber security regular awareness training and simulations. This initiative will help you avoid human errors that could lead to a fine or the costs of a cyber attack.
With your limited resources, outsourcing a GDPR consultant and a cyber security consultant to work with your IT and developing teams might be a better fit to go. Outsourcing usually makes the process easier and takes the overload of employees needing to focus on other business aspects.
As we can see, data protection and cyber security are two subjects that will always walk hand-in-hand, and embedding both on your business strategy can save you from future trouble.
If you need help, click here for a free consultation with us, where we will review your company data and security challenges and put together the next steps for compliance.