Growth Lensing operates in the The European Union. This is a political and economic union of 28 member states that are located primarily in Europe. It has an area of 4,475,757 km² and an estimated population of about 513 million. The GDP in the European Union was worth 17,277.70 billion US dollars in 2017. The GDP value of European Union represents 27.87 percent of the world economy. Innovation and new ideas are much welcome here. For example, cloud computing is developing fast. Estimates indicate that these developments could lead to the growth of the European cloud market from €9.5bn in 2013 to €44.8bn by 2020, i.e. almost five times the market size in 2013. Growth Lensing supports SaaS companies to develop their Business here in Europe. But any other innovative idea is welcome to be launched in Europe.

European Regulations, Privacy Laws and GDPR

Due Diligence is a big thing here at Growth Lensing. GDPR: The General Data Protection Regulation (EU) 2016/679 (“GDPR”) is a regulation in EU law on data protection and privacy for all individuals citizens of the European Union (EU) and the European Economic Area (EEA). … The data subject has the right to revoke this consent at any time. You may not have considered it yet, but GDPR could have substantial impact on your company’s operations. GDPR, the European Union’s General Data Protection Regulation (GDPR), took effect May 25, 2018. … This means all companies worldwide need to comply with GDPR.

  • Increase in the Territorial Scope
  • Bigger Penalties For Non-Compliance
  • Explicit Consent From Users
  • Breach Notifications
  • Data Protection Officers

Find out How it works here.

  • Increase in the Territorial Scope
  • Bigger Penalties For Non-Compliance
  • Explicit Consent From Users
  • Breach Notifications

A good blog about this here…. https://www.privacypolicies.com/blog/gdpr-compliance-saas/

In Germany and France, data privacy also has extra specific layers to it. Contact us here at Growth Lensing for a compliance discussion on this topic.

What is the impact on SaaS business?

Because of the Brexit, capital flows are being deterred from the United Kingdom. It is shifting towards Berlin, Paris, Dublin, Bratislava, Amsterdam, Barcelona and others with their thriving tech scenes. The UK was a beachhead into Europe for many US service providers due to language, cultural and time zone preferences. This will now change. With the UK no longer having single market privileges in the EU, there will be an indirect tax pressure on businesses serving Euro clients from the UK. We re-iterate this is a serious issue and the UK should now be seen as an entire separate ‘entity’ with its own rules and challenges. Also, SaaS spending in UK was at 5% increase over the years but has now grounded to a halt. Stagnation…

Growth Lensing can help determine the best road map for entering or scaling up the EU Business Development, without forgetting the key market of the UK. Growth Lensing will also protect organizations from risks that come with this complex Brexit process.