There are several ways businesses can benefit from the GDPR. First, the regulatory environment in the entire EU will be harmonised. This will make expanding into another EU country much easier.
Secondly, non-EU companies will also have to play by the rules if they wish to do business in the EU. The playing field will be completely level. EU businesses won’t be harmed by companies taking advantage of countries with lax privacy regulations.
Thirdly, the more stringent requirements for data storage will make data breaches a rare occurrence. This inadvertent effect will have a great impact on preventing losses stemming from data loss.
Find out more about why the GDPR is good for business here.