So just set the bar of compliance to start any company at several hundred thousand dollars (which is pretty much where it is) and you get the lovely contemporary effect of 40 year lows in new business creation[1][2].
There are active, observable, and semi-quantifiable costs to society when lawmakers create arcane, incomprehensible laws meant to prevent entry into markets by making the barrier of compliance too high for most people to afford to compete.
The GDPR is not arcane or incomprehensible. It’s quite simple, there are a million explanations out there about how to comply, and even in the case you don’t get it right regulators will invariably give you the benefit of the doubt.
Many things might cause low levels of business creation. I am entirely unconvinced that the cost of regulation is one of them.
Many things might cause low levels of business creation. I am entirely unconvinced that the cost of regulation is one of them.