Figures about (starting) businesses
Starting a new business? Discover how other entrepreneurs do it. Here are some figures about Dutch companies.
- The Netherlands has 1.08 million sole proprietorships.
- This is an increase of 80 percent over ten years.
- The majority of starting businesses are management consulting firms.
- Western Netherlands has the most starting businesses.
- 60 percent of starting entrepreneurs drop out within two years.
Are you the entrepreneur who wants to make your business a success? With these five tips, you will at least make a good start.
1. Follow developments and see what the competition is doing
You have a great idea for a business. Too often, it is thought that no one else has this idea. Wrong! It is important to follow developments in your sector. How is the competition doing, and can you match or even improve upon this? Make sure you are distinctive, so that customers can find you.
2. Business plan and register with the Chamber of Commerce
With the business plan, you map out your opportunities and goals. Not only handy for yourself, but certainly when you need financing. It is advisable when you are applying for a business loan. Tip: check every year whether your business plan is still 'up to date', or if you need to adjust the business plan. Don't get discouraged: most businesses operate at a loss in the first year. The second year is good for breaking even, and in the third year, profit starts to count. Some businesses take a little longer.
3. Set a realistic budget
As a starting entrepreneur, you cannot do without business resources. This requires an investment. If you have no savings, you may often rely on a loan. As a starter, it is often difficult to obtain a business loan. Fortunately, a personal loan offers many possibilities. You borrow a one-time amount for a fixed term and interest rate. This way, you know exactly what to expect and can weigh the costs against the revenue. Thanks to this one-time loan, it is possible to acquire the necessary business resources. However, do not overdo it and invest primarily in the essentials in the first year. Also, consider possible deductions (Tax Office). Starting entrepreneurs benefit from the starter deduction.
4. Handle a professional hourly rate
It seems very attractive to attract customers with a low hourly rate. However, this is not wise for two reasons.
- It will be difficult to raise the hourly rate later.
- Customers have less trust in a cheap company.
Therefore, start immediately with a realistic hourly rate. This can be slightly lower than the competition, but should not deviate too much. This way, you come across as reliable and professional. Increase your rate in line with inflation and keep an eye on the 'Consumer Price Index All households' (CPI).
5. Learn from your mistakes
Especially in the beginning, you may make mistakes as a starting entrepreneur. This may lead to criticism from the client or customer. See it as constructive criticism and take advantage of it. This applies not only to mistakes related to work but also to advertising, networking, and much more. Learning by doing: you will naturally grow into a successful business. If a customer or client is really not satisfied, try to resolve this in a polite manner. This prevents negative reviews about you from appearing on the internet.
