Privacy is good for business

While some businesses embrace privacy principles and at least try to get it right, many still don't bother. Especially small and mid size businesses that think their customers won't care, and the regulators won't bother them. It has been said that roughly 25% of individuals pay very close attention to privacy issues, which means that at least 25% of any given business's customers will pay close attention.

David Fraser has 2 recent entries in his The Canadian Privacy Law Blog that provide evidence that it pays to deal with privacy.

First, a reference to an article that sets out how much it costs to deal with a privacy breach.

Second, a reference to a survey that shows people actually make buying decisions based on what they read in a privacy policy. And that hard to understand privacy policies are as bad as no privacy policy.

Read David's privacy breach cost post Read David's policy survey post