Why Privacy Is Important For Your Business

ByWomen's Business Club

Feb 28, 2022

Privacy measures may seem like a waste of time for businesses, especially if you are in the startup period. However, privacy is crucial for all businesses as well as individuals. It offers a sense of security and protection from the world. With digital technologies advancing and more people being able to hack servers and make your data and personal information vulnerable, it is crucial to put privacy measures in place when running a business. Here’s how and why. 




Allows you to share data safely

Using synthetic data allows businesses to share data safely. Instead of risking sending real data to companies, using synthetic data will help you share data with businesses without risking your personal information. Furthermore, it allows companies to understand patterns in the data to innovate quicker in line with customer demands. 

Protection involves both internal and external factors. When running a business of any size, it can be common to take out a personal loan. This loan is a part of your personal life yet contributes to your external business life. The connection between your personal and business life can reduce the security of your personal information. Thus, ensuring that you use synthetic or digital means of sharing data will enable you to safely share information and insights so that your business can run safely and efficiently. 


Personal protection

Speaking of personal data, using privacy measures will offer more personal protection. When setting up a business you may be going into it alone or with a friend or colleague. Either way, you will want to ensure you and your business partners are protected at all costs. 

Using privacy measures and not putting your or your partner’s name at the forefront of the business will reduce the risk of your personal information being intruded. If your name is at the front of the business, then the entire world will know who owns the property, its finances, data, and assets. You will put yourself at risk of being traced or your personal life being tampered with, especially if someone is trying to hack your business. There are no stopping hackers from intruding on your personal life if you put your name at the front of your business. 

If possible, and if it’s on-brand, then try to keep your personal information completely separate from your business. It will keep you protected and reduce the risk of personal invasion. 

Furthermore, you will be free to speak openly about your own views and ideas online without them being related to your business. You might want to still keep and share family photo albums online through social media platforms. Thus, to protect your family, have freedom of speech, and enhance your privacy, remaining anonymous online in your business will help. 


Reduce the risk of hacking

Hacking is at its height due to the advancements in technologies. Not only can hackers interfere with data, but they can also intrude on your finances too. If you share information online regularly, these could be clues to your hackers for them to guess passwords. 

As a business, you should stick to only sharing your business-related information. When you are marketing your business, stick to business-only information. The more personal information you share through videos, photos, and text, the bigger the risk of sending clues for hackers to intrude on your data. 

If your business does ever come under threat due to hacking, there are some essential steps to take (which will also reduce the risk of recurring):

  • Two-factor authentication: two-factor authentication acts as a double password for your accounts. Even if the hacker guesses your password, they will need to break down another barrier before entering the account. For example, a common two-factor authentication step is for a second password to be sent to your personal devices. You can often get a text message to verify or deny entry. This means you can protect your accounts and data on the go. 
  • VPNs: virtual private networks (VPNs) are useful for any size business, especially if you decide to work from home. Remote working is popular for business owners. Thus, if you choose to work from remote locations, always ensure to use VPNs to secure your location. 
  • Never use public network connections: speaking of network connections, it is advised to avoid public networks when connecting to the internet. Not only can these compromise your data, but it also makes it much easier for hackers to intrude your software. 
  • Data backups: if your data ever is compromised, it can help to have backups. Regularly backing up your data and passwords will ensure that nothing is lost if an intrusion was to occur. You can guarantee to keep your data safe when using cloud backups. Instead of the data being backed up on a hard drive, which could easily be lost or stolen, you can use virtual systems. These will store your data with minimal risk of being lost or compromised. 


Builds stronger employee connections

When your business starts to expand, you will likely want to hire new employees. In the process, if you advise them that your business and personal information are private and are at minimal risk of intrusion, your employees will feel safer. 

Building strong employee connections will benefit the daily productivity of your business. If you hire employees that have little trust in you and your business, they are less likely to be productive or work as hard as possible. They might lose interest easily. 

However, by building connections through privacy and trust, you can assure that your employees will work hard and focus on the goals of your business. 

From the first day that you hire an employee, you will want to ensure they are determined and loyal. To guarantee this, building a connection is key. If you have a friendly bond with your employees, they are more likely to help your business succeed. 

From the getgo, ensure to advise your employees that their data and personal information will remain private from the business so that they can have peace of mind. It can help to integrate it into the contract to gain their full trust. 


Enhances customer trust

As well as satisfying your employees, being private will satisfy customers too. No customer will want to hear that their data and information could be compromised. If you offer customer privacy too, then they will be willing to offer you their service. 

There have been many incidents of data lacks and hacks of businesses throughout the years. This has not only put the business at risk but the customers too. This has led to a lack of trust. Thus, if you guarantee and prove that you can offer your customers privacy then it will enhance customer trust. 


The freedom to experiment

When setting up a business, you may get things wrong from time to time. When you are private, it gives you the freedom to experiment. You can trial new things without being judged or pressured. 

The beauty of privacy online is that it offers freedom of movement, as well as speech. Instead of worrying about what people might say, you can freely play it safe and not be at risk of judgment if a trial fails. You can fail in peace if that were to happen and move on to the next challenge. 

Setting up your own business is never plain sailing. Thus, if you remain private it will give you the freedom to explore and trial new things until you find a way that works. 


Get better faster

When you are experimenting, you might experiences failures. Or, you might experience wins. If so, you can win in peace too. This will give you an advantage over competitors as they will not be aware of the wins. You can succeed quicker and beat the competition, which will help you climb to the top of the game in your industry. 

Being private will allow you to be hidden for some time. You will have fewer people and competitors tracking you. This will enable you to stay focused on your own path and be more efficient. With a lack of judgment and quiet successes, you will be able to reach your own quicker, which is key for businesses to grow and expand. 


Be in control

Remaining private in some areas of your businesses will enhance your control. If you share too much online, you can be at risk of others trying to control your business. Or, you can be at risk of hacking. 

If you remain private and attain better control, you will be able to exercise your ideas without anyone interrupting. As a business owner, it is important to put your ideas and vision first. Not letting anyone get in the way will help you achieve your business goal and help you achieve what you set out to. With more control, you can take charge of your privacy and be in more power if your business data and security was compromised. 

By Women's Business Club

Women's Business Club empowers women to succeed in business through awards, conferences, business support membership, and news. Find out more at www.womensbusiness.club or send your press release [email protected]. Articles and adverts are chargeable, see media pack at www.womensbusiness.club/media-pack

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