Privacy for your business, yay or nay?

I'm currently working on building an MVP for my business.

In short it's a data management tool that automates privacy compliance and data access for your customers.

Now here's the question, do companies actually care about privacy compliance? Or do they prefer to manage it as problems occur?

I find privacy a difficult problem to validate. Because it is a problem, but only when it impacts a business negatively, then they look for a solution.

However numerous studies have shown that customers do switch or stay depending on how their privacy is respected. My solution helps achieve this, but that's not solving a problem, is it? I feel like that is enhancing business through the use of privacy.

Would love your thoughts and whether any of you have dealt with customer privacy issues.