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Two-thirds of UK businesses express doubt that they comply with data protection laws
Almost two-thirds of UK businesses are not entirely confident in their compliance with local and EU regulation around data protection and cookie banners, according to new research from leading European privacy tech company, Usercentrics.
Finance and insurance, as well as software businesses, are most confident in their compliance levels, while agriculture, government and public administration and non-profit institutions present with the lowest confidence levels.
Despite consumers placing more and more value on solid data privacy practices, only 37 % of businesses say they are completely confident that they are compliant with current privacy regulation.
When asked about the main factors that would help them to ensure compliance, businesses cited both clearer regulation without‘ grey areas’( 43 %) and better internal resources to keep up to speed with regulatory changes( 43 %). Having a designated person or team in charge of managing the process was cited by two-thirds of businesses( 36 %) as something that would further increase confidence in compliance with current regulations.
The survey of 600 businesses across the UK, Germany, Italy and Spain found that there were significant differences between small and large companies on the main drivers to ensure compliance. Small businesses mostly fear that lack of compliance may result in losing the trust of its customers( 38 %). While over half( 52 %) of large businesses also fear the loss of trust, they are also concerned about the damage non-compliance may do to its public image( 42 %).
Imaginative companies report 58 % revenue growth, new research reveals
New research released by B2B consultancy, The Frameworks, reveals that companies which actively invest in imagination are more likely to report considerable growth and outperform their peers.
Ben Bush, Partner at The Frameworks, said:“ Imagination isn’ t a nice-to-have. It’ s a core business capability that drives growth, resilience and innovation. The companies embracing it are setting itself apart, not just in how they operate, but in how they lead.
The study shows that businesses which encourage creativity, experimentation and forward-thinking outperform less imaginative organisations on multiple measures, from revenue growth to future-readiness.
“ The most successful organisations are those that empower people to think differently, challenge the status quo and bring bold ideas to life.”
The report, The business of imagination – how embracing new ways of thinking can unlock new paths to business success, was commissioned by the Frameworks using a Censuswide survey of 500 senior decision-makers in the UK and US at companies with more than 500 employees.
Among the most imaginative companies surveyed:
• 58 % reported considerable revenue growth over the past year
• 63 % are performing significantly better than their competitors
• 76 % describe themselves as‘ very resilient’
• 84 % are highly confident in their ability to seize new opportunities
6 www. intelligentcxo. com