Information security and data privacy in SMEs
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SMEs at a Disadvantage: Lack of Information
Added to this is a significant information asymmetry between large corporations and SMEs. While large corporations can rely on specialists in their legal departments when new regulations take effect, in SMEs it is often the Managing Director themselves or staff without specialized knowledge who must handle the review and compliance. Furthermore, large corporations tend to organize themselves into trade associations, through which they are informed of relevant legislative changes at an early stage. In contrast, SMEs already struggle to identify the changes and new regulations that are relevant to them.
The Path to Compliance
But even after identifying the relevant regulations, implementing them remains a major challenge. In particular, establishing a data privacy and information security management system is a hurdle that is virtually impossible to overcome on one’s own. After all, this involves creating a large number of documents, managing them, defining processes, assigning tasks, and conducting regular reviews—all while coordinating closely with other departments within the company in terms of both timing and content. It is also often difficult to maintain a strict separation between information security and data privacy. The unfortunately common result: duplicated effort and little return.
