SOC 2 Renewal: A Guide for Startups and Small Businesses

Let’s talk about something that might not be on your radar but definitely should be: renewing your SOC 2 compliance. You’ve already done the hard part—getting certified. But here’s the thing: staying compliant is just as important as getting compliant —if not more so.  

A lot of small businesses take the renewal process for granted, thinking it’ll be smooth sailing because they’ve done it before. Unfortunately, that’s not always the case. 

If you’re not proactive, you could face delays, or worse, lose your attestation entirely. That can hurt your reputation and even cost you deals.  

So, let’s make sure that doesn’t happen to you. Stick with us, and we’ll walk you through everything you need to know about renewing your SOC 2 certification—and how to make it as painless as possible.  

• The SOC 2 Renewal Process   

• How Hard Is It to Stay SOC 2 Compliant for a Small Business?   

• SOC 2 Renewal FAQs   
  
  

The SOC 2 Renewal Process 

The SOC 2 renewal process involves several key stages: 

1. Internal Review: Assess your current compliance status. Identify any gaps in security controls, documentation, or processes. 

1. Evidence Collection: Gather the necessary evidence to demonstrate your adherence to SOC 2 requirements. 

1. Audit Preparation: Update your policies, procedures, and training to ensure readiness for the audit. 

1. Renewal Audit: Work with a trusted auditor to confirm continued compliance. 

SOC 2 Type 1 vs.  SOC 2 Type 2 Renewal 

The renewal process differs depending on whether your small business initially pursued SOC 2 Type 1 or SOC 2 Type 2 compliance: 

• SOC 2 Type 1 Renewal: Focuses on ensuring controls are in place at a specific point in time. 

• SOC 2 Type 2 Renewal: Involves evaluating the effectiveness of those controls over a defined period, requiring more evidence and preparation. 

Both types benefit greatly from leveraging compliance automation for small businesses, which streamlines the process by automating tasks like evidence collection and control monitoring. 

How Hard Is It to Stay SOC 2 Compliant for a Small Business? 

For a small business with up to 1,000 employees, staying SOC 2 compliant can be challenging. Maintaining compliance involves updating controls, monitoring systems, and addressing audit findings. However, modern tools and services can simplify the process: 

• Compliance Automation for small businesses/startups: These tools reduce administrative workloads by automating evidence collection, flagging gaps, and generating reports. 

• Compliance as a Service (CaaS): Partnering with a CaaS provider like BEMO can offload the complexities of compliance. Experts handle everything from control implementation to audit support, ensuring the fastest way to get compliant and stay that way. 

Leveraging these solutions not only saves time but also ensures your small business stays ahead of evolving compliance requirements. 

SOC 2 Renewal FAQs 

Here are answers to common questions about the SOC 2 renewal process: 

1. How often is SOC 2 renewal required?
   SOC 2 reports are typically valid for one year, so renewal audits should be scheduled annually.
   
   
2. Can a small business automate SOC 2 renewal?  
   Yes! Compliance automation for small businesses streamlines evidence collection, control monitoring, and reporting.
   
   
3. What happens if a small business misses its SOC 2 renewal?
   Failure to renew could result in losing your certification, impacting trust with clients and partners.
   
   
4. What frameworks should small businesses consider alongside SOC 2?
   In addition to SOC 2, frameworks like ISO 27001, NIST 800, HIPAA, and CMMC might be relevant depending on your industry. Check out our article “Which Framework is the Best for My Small Business?” to determine what pairing could work out best for your small business.
   
   
5. How can small businesses ensure the fastest way to get compliant?
   Partnering with a CaaS provider and using Compliance Automation tools ensures efficiency and reduces the risk of delays. Compliance automation tools automate evidence collection, track control effectiveness, and generate compliance reports, significantly reducing the time and effort required for renewal. Even if you achieve SOC 2 manually, there is never a better time to automate your small business compliance. 

The Bottom Line 

SOC 2 renewal is a critical process for small businesses aiming to maintain their competitive edge and security reputation. By embracing Compliance as a Service for small businesses and startups and leveraging compliance automation, you can streamline the renewal process, saving time and effort.  

Don’t wait until the last minute—start preparing today to stay compliant and safeguard your growth.