Hi,
Yes, Microsoft 365 Business Premium supports Microsoft Purview Data Loss Prevention (DLP), so you should be able to create DLP policies with this license.
Based on the error message, this appears to be a permissions issue rather than a licensing issue.
Although you’re a Global Administrator, some workloads in Microsoft Purview use their own role-based access control (RBAC). In particular, creating and managing DLP policies requires your account to be assigned to an appropriate Microsoft Purview built-in role group, such as Compliance Administrator, Compliance Data Administrator, Information Protection, Information Protection Admin, or Security Administrator.
I recommend checking the following:
- Go to Microsoft Purview portal > Settings > Roles and scopes > Role groups.
- Verify that your account is a member of one of the required Purview role groups for DLP management.
- If you have just been assigned the role, sign out of the Purview portal, wait for the permission changes to propagate, and then sign back in.
For more information, you can refer to these Microsoft Learn articles:
If you’ve already confirmed that your account has the appropriate Purview role assigned and you’re still seeing the same message, could you let me know:
- Is this a newly created Microsoft 365 Business Premium tenant or an existing one?
- Does the issue only occur under Information Protection > Policies > Protection policies (preview), or do you encounter permission errors elsewhere in the Purview portal as well?
- If possible, could you also share a screenshot of the error (with any personal information removed)?
That information will help determine whether this is a role assignment issue or something specific to the Protection policies (preview) experience.