New York SBDC Research Network

From BusinessWire : With... the May 25 enforcement date of the EU’s General Data Protection Regulation (GDPR) [looming], NetApp, the data authority for the hybrid cloud, released research findings from a global survey of IT decision makers across the U.S., UK, France, and Germany. The survey shows that these decision makers are still missing an opportunity to transform their business through a holistic data management approach that reduces risk and improves business efficiency. For nearly two years, most organizations have lagged in addressing their GDPR compliance, and in some cases are ignoring the issue completely. In doing so, they are ignoring the benefits to be gained from the compliance effort, including developing a data-centric approach to control, manage, and move data regardless of where it’s stored – on premises or in the cloud. A data-centric approach drives improved efficiencies and competitive advantage and unifies data governance practices across organizations to dr...

Obtained From:  Fortune Large digital companies operating in the European Union, such as Alphabet Inc. or Twitter Inc., could face a 3 percent tax on their gross revenues based on where their users are located, according to a draft proposal by the European Commission.  The draft, seen by Bloomberg, was circulated on Friday and outlines how a targeted levy on gross revenues would increase the tax bill digital giants face, as the bloc seeks to raise money from an industry it says provides less than it should to public coffers. EU countries have been looking into methods to tax digital companies, including Amazon.com Inc. and Facebook Inc., in a way that captures the true value created in the region.  The commission’s planned revenue tax, which is expected to be proposed on March 21, would only represent a targeted, short-term solution. The bloc also plans to propose a more comprehensive, longer-term approach that will focus on a digital permanent establishment. ...

  Obtained From: eMarketer Just 6% of firms are completely prepared for the European Union’s General Data Protection Regulation (GDPR), according to a November 2017 survey of IT professionals by data modeling company Erwin. The GDPR, which becomes enforceable in May, states that a consumer's data can only be used if they give a company explicit permission. Not being prepared for these new rules is a big risk, because companies that are found to be in violation of the GDPR face a fine of $24 million or 4% of annual sales, depending on which figure is higher. One of the reasons more companies aren’t prepared for the GDPR is because it is expensive to become compliant with the new laws. Half of the companies in a Forrester Consulting and Evidon survey spent more than $1 million to meet GDPR requirements. And nearly a fifth of companies allocated more than $5 million for GDPR prep. “Conducting a whole GDPR analysis on the companies you work with, and the companies that those ...

From MarketingProfs : Marketing departments may not realize the seismic impact a new regulation will have on their plans for 2018. And if they don't begin planning today, CMOs may discover that after May 25, 2018, their teams will not be able to execute campaigns and activities in the way they used to—at least not without facing the risk of legal action against their companies resulting in dramatic penalties and brand damage. The specter of the General Data Protection Regulation (GDPR) has loomed large since it was adopted last year by European Union (EU). When it goes into effect next year, this new regulation promises to radically change every phase of consumer data management within the EU—and worldwide. And just because your company or its servers are not in the EU doesn't mean you'll be able to get around the issue. A change of this magnitude requires a dedicated and serious response from any organization that either does business within the EU itself or has a ...

From The Economist : Leaving the EU would trigger a recession and set real GDP back by 6% by 2020. This is one of the key findings from the latest report from the Economist Intelligence Unit (EIU), Out and down: Mapping the impact of Brexit. The report, which explores a post-Brexit landscape and its impact on key industrial sectors, suggests that the impact on specific UK industries would vary by sector and would be largely negative—although some sectors will find themselves more insulated than others. Other findings include: The uncertainty caused by a “Leave” vote would upset consumer and market sentiment, causing a 14-15% devaluation of the pound against the US dollar. Delayed investment and spending decisions would hit real GDP growth most in 2017. Weaker trade ties would exacerbate this decline from 2018 onwards, therefore, in real terms the UK economy would be 6%—or £106bn—worse off in 2020. Pharmaceutical exports, access to medicines and research grants could all be at r...