A report reveals that 68% of businesses do not know about the Australian Privacy Principles, prompting the need for SME owners to remain proactive and stay informed about legislative or industry changes.
Australian law firm LegalVision’s inaugural SME and Online Business Insights Report 2016 provides fresh insight into the Australian business community with a strong focus on the privacy segment.
The survey, which collected responses from 200 businesses and analysed data from LegalVision’s custom-built CRM, highlighted a number of trends across the SME sector, and also identified common legal obligations that business owners may be failing to address.
Some of the keys insights revealed by the survey include:
Mr Lachlan McKnight, CEO of LegalVision, said the report highlighted the rapid growth in new Australian businesses, particularly online.
“Business owners now have greater access to information to help launch companies. Australian SMEs are taking charge by creating new products and improved services themselves, rather than waiting for someone else to do it,” he said.
McKnight added, “It’s important for businesses to understand that compliance with legal obligations should be an ongoing focus. Our report revealed that 68% of businesses did not know about the Australian Privacy Principles. To avoid landing in hot water, SMEs should be proactive and stay informed about legislative or industry changes.”
The SME and Online Business Insights Report 2016 can be downloaded from: http://go.legalvision.com.au/LP-SBReport-Ebook.html.
Inside Small Business