European businesses unprepared for GDPR

Businesses across Europe are unprepared for the EU’s General Data Protection Regulation (GDPR) which comes into force in May 2018 according to research for RSM.

The survey completed by 400 of Europe’s business leaders asked about their readiness for GDPR and how the new regulation will affect their operations.

Six months before the new regulation comes into effect only 8% of businesses are ready and have made the necessary compliance changes. The survey found that 28% are unaware of the regulation. More than half believe it is too complex for small and medium-sized enterprises and middle-market businesses but agree that increased regulation on the use of personal data is necessary.

Even when business leaders were familiar with their GDPR strategy 26% admitted their organisation would not be compliant by May. Businesses that fail to comply before the deadline could face fines of up...