No. This is a massive barrier to people who aren't used to thinking about their fellow people.
As a consumer, I very much like the protections the GDPR provides.
As a business owner, I don't find GDPR to be a barrier to entry - TBH, anyone who actually cares about user privacy at all would have been near-compliant even before GDPR name in. For me, I think it was 1-2 days, most of it spent reading.
It's not difficult to comply with, and I'd be very against exemptions for small businesses - also because larger businesses would use it as a loophole to game the system.
It's really no more than a few lines of code to respect user's privacy, and if you're collecting significantly more user data then you should be handling it with care.
I work in the EU, in tech, with customer data, with these rules and have zero problems following them.