Privacy risks mount for startups
Australia's startups will be swept up in anticipated privacy law changes expected to scrap exemptions for small businesses, but many are unaware.
Businesses with an annual turnover of $3 million or less are currently exempt from national privacy laws, but that's likely to change soon — and many small businesses are far from prepared.
The change is among many expected in draft legislation that's tipped to be introduced by Attorney-General Mark Dreyfus next month, after a review outlined 116 proposals for national privacy law.
Much has been made of how the application of privacy laws to small businesses will affect local florists and cafe owners. Less discussed is the impact on Australia's startup industry.
Lawyers speaking with Capital Brief say many startups remain either unaware of the impending changes or view them as a future regulatory bridge to be addressed when reached.
