June 16 2016.

The majority of the UK’s small and medium-sized businesses have either not heard of, or are uncertain about, the impact of the EU’s new data protection legislation, research finds.

General Data Protection Regulation (GDPR) was adopted in April 2016 and takes effect within two years. 

The study, which forms part of Close Brothers’ quarterly survey of UK SME owners and senior management from a range of sectors, finds that 82 per cent of companies have either not heard of GDPR or don't understand its impact; a further 14 per cent will need to take further advice.

Only 4 per cent of SMEs say they understand the legislation and are clear about the effect GDPR will have on their business.

Ian McVicar, managing director of Close Brothers Technology Services says, that GDPR is one of the most significant and anticipated pieces of legislation..... 

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