May 25 is an important deadline for many businesses, and it’s coming up fast.
The deadline has to do with the General Data Protection Regulation (GDPR), and numerous U.S. businesses have been working hard to become compliant to avoid stiff penalties. Although larger companies that routinely deal with an individual’s personal information are aware of and working on changes to adhere to the new rules, small businesses might not realize that the new guidelines could affect them, too.
With the countless stories circulating in the news about the loss of personal data and identity theft, people are now more aware that they need to protect themselves. Many are demanding stricter consumer protection placed on everything from social media platforms to online banking and shopping and more. People want a say in how their personal information is used and they want a way to remove their information from businesses that they no longer use.
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The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.