Opening a business in The Netherlands: What you need to know
Making the decision to open a business can be an exciting time in any budding entrepreneurs’ life. However, there are so many different avenues to explore, and so many things to consider when making a detailed business plan. Where will your business be based? Will it be national or international? How many people will you employ, and how many departments will you have? What products and services will you be providing your customers with? These are but some of the many questions that any director will be faced with when creating a business from scratch. So, where do you start? If you are highly considering the idea of opening a business, you are in the right place. We have created a detailed list of things to consider for those of you out there who are planning to open a business in the Netherlands.
Planning and registration
First and foremost, when creating a business, you will need to create a unique and compelling name, one that sets you apart from your competitors while giving an idea as to what the business is about. Having a memorable business name will ensure that your customers and clients remember you and will be great for word-of-mouth recommendations also. Once you have completed this first – and sometimes, time consuming – task, you must then go forward and register yourself with the appropriate governing bodies. Ensuring that your business is registered with the appropriate people, will prevent you from getting into any sort of trouble in the future, while providing security and guidance for your business going forward.
Budgeting
Sticking to a budget is vital for most aspects of life. Particularly after a tough year financially for a lot of people, you don’t want to be putting yourself into financial difficulty to attain something that is out of reach. Having a detailed and accurate budget ready and at hand when planning to open a business, will ensure that it is on your mind whenever you are making important decisions. Possessing a budget is helpful when deciding on where your company will be based, and whether you can afford office space in these areas. Furthermore, budgeting for all aspects of a business will enable you to determine the costs for covering the important legal stuff, while determining the money that you will have remaining following this; vital for paying your employees. As your company expands and grows, you will naturally be bringing in more money while accruing more outgoings. This is only natural, and does take some time, so I would not worry too much!
Location
There are a number of ideal cities in the Netherlands which will provide your business with a great base to launch from. You must consider, however, the impact that your location choice will have on your business. If you are providing physical products and goods, will being closer to the coast in a port-town be more beneficial as it would reduce the amount of money spent on shipping costs. Or do you want to provide online services from the heart of a bustling metropolis such as Amsterdam or De Haag. Your choices are wide and opportunities seemingly endless, but this is certainly something that will require an in-depth, detailed decision.
Directorship
When you have selected a location and registered your business with the relevant bodies, it is essential that you consider what you must do as a now-director of a business. Registering as a director of a business is the most important step to being in control of your business and should be done as soon as other legal matters are taken care of. As a director, you have a lot of responsibility on your shoulders for striving toward success for your business, your employees and ultimately, for yourself. The role of a director can often be intense, particularly if you are new to the idea. There are several companies in the Netherlands who provide services to support people in those exact situations. Inco Business Group are an example of one business in the Netherlands who provide services to assist with the formation of a company, including Dutch Directorship registration, opening business bank accounts and more. For further information about the types of services that are on offer, and how they can benefit you and your business, look here.
Logistics
As the UK heads towards a deadline for a trade deal with the EU, it is important to make a note of what this will mean for you and your business. Currently, EU residents are free to open businesses and companies in countries like the Netherlands, but this is set to change. To make certain that you don’t hit any obstacles in the near future, do your research on how new regulations will restrict what you can do, and the practices that you can take to avoid them.
