A recent study from the UK’s Data & Marketing Association (DMA UK) reveals that over two-thirds (67%) of SME owners believe the UK needs to reform its data protection laws to enhance its global standing as a tech hub. 

As the new Data Protection & Digital Information Bill (DPDI) concludes its journey through the House of Commons and moves into the House of Lords, a report from the DMA (Data & Marketing Association) sheds light on perspectives of both the UK public and SME owners. 

Chris Combemale, CEO of the DMA claims that by adopting DPDI’s pro-innovation revisions, the UK can establish a customer-centric model for data protection which could make the UK a more appealing global tech hub and also act as a template for the rest of the world to follow.

The study shows that SME owners recognise the importance of consumer privacy, with nearly 4 out of five (79%) of respondents saying that future UK data regulations need laws to keep customer data safe. In addition, a majority of SMEs (72%) say that the General Data Protection Regulation (GDPR) is essential for maintaining the security of customers’ data.

When looking at consumers, about three quarters (74%) believe that current data and privacy protections are sufficient. In addition, consumer confidence is relatively high, with two thirds (66%) saying they trust UK regulatory bodies to keep up with emerging technology. However, 59% say that they believe brands are responsible for handling communications and data processing. 

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“It is essential that the UK public remains confident in the data protection ecosystem. Therefore, it is highly encouraging that most trust the regulatory safeguards in place to protect them, as well as businesses’ willingness to put their interests first,” continued Combemale. 

“DPDI will enhance the customer experience by helping businesses to better communicate and engage with the UK public. It will not impact consumers’ existing privacy protections, which is important to both SMEs and consumers, so we urge UK Parliament to complete passage without hesitation.”