U.S. Small Businesses are Worried About New Privacy Regulations Hurting Bottom Line

For Immediate Release

Contact: Erin Grandstaff
202.570.0510
erin@sqcomms.com

Research Shows Majority of Businesses Are Concerned with Data Security Issues

WASHINGTON, DC – March 11, 2019 – Connected Commerce Council (3C) released a new research report today, Small Businesses Data Regulation and Responsibility, exploring small and medium-sized business owners’ (SMBs) attitudes toward data regulations. The report highlights both the willingness of SMBs to comply with smart regulation and an understanding of the importance of data security, but a general concern among SMBs that policymakers cannot write and enact effective laws governing data.

Highlights from the report include: an overwhelming majority (86%) of SMBs believe they protect customers data and believe data security is critical to operating their business (67%). However, most SMBs (80%) report knowing very little about data protection laws. Moreover, very few business owners are confident that policymakers can effectively regulate this area (16%).

“Clearly, small businesses see the importance of data security but are concerned with the legislative process around data regulation,” said Jake Ward, Connected Commercial Council president. “Policymakers at all levels of government need to invite small business owners into the process, hear their concerns and ensure they are addressed in any potential legislation.”

In addition, the report found that 72% of SMBs would support improvement to data regulation if the regulations do not cause day-to-day stress on the business. Produced in partnership with NP Strategy Group, the full research report will be submitted to the House Small Business Committee as part of Mr. Ward’s testimony at a hearing on rural digital entrepreneurship held on March 13.