The European union has an infographic available about the different components of the GDPR.
According to the EU the GDPR consists of better rules for small business. From 25 May 2018 citizens have more control over their data. And business have to comply to just one set of rules for all companies operating in the EU (in the past each EU country had its own privacy regulations).
More information for Small and medium-sized enterprises (SMEs): https://ec.europa.eu/justice/smedataprotect/index_en.htm