In the Netherlands, we love entrepreneurship, and in recent years, more businesses have been started.
When setting up your own company, for example a Dutch casino online, there are many things to consider. To help you stay focused, we have created a checklist. With this, you can go through the steps to successfully start a business.
Register with the Chamber of Commerce
When starting a business, registration with the Dutch Chamber of Commerce is mandatory. When you register in the directory, you may be asked for a notarial deed. The deed is drafted by a notary and outlines legal agreements and objectives. Additionally, it automatically notifies the Tax Administration that you have started a business.
Check the financial requirements
Before registering with the Chamber of Commerce, you should do various things. Creating a financial plan is an important step for example. In this, you look at the resources you need and how much they will cost. In a financial plan, you aim to answer questions such as how much money you need to start, how you will finance the business, how much profit you expect to make in three years, what the expected costs, purchases, and revenue will be, and how much you want to pay yourself. With answers to these questions, you can determine whether your business is financially viable.
Create your strategy
Before starting a business, it’s also important to explore the market you want to operate in. Is there really a demand for the service or product? How will you differentiate yourself from others? Where is your target audience located, how will they find you, and how will you reach them? Which industry will you operate in? What trends should you consider? Is that industry and market stable? How are your competitors doing, and are they successful? For example, you can gain insight into others’ revenue through the Chamber of Commerce business registers. Don’t forget to ask questions to your intended target audience as well. Try to speak with as many of them as possible to get a realistic understanding of their needs, so you can respond accordingly.
Write a business plan
Writing a business plan helps achieve better results. A business plan provides clarity and forces you to think about both positive and negative scenarios. Traditionally, a business plan focuses on competitors, obstacles, threats, opportunities, strengths, and weaknesses. Combined with the previously mentioned financial plan, you will be able to create a realistic picture of your business.
Choose the right legal form
Familiarize yourself with the legal forms and choose one that suits you and your business. In the Netherlands, there are various legal forms to choose from. Each form has its own advantages and disadvantages. For example, some require start-up capital, while others may hold you personally liable for any losses.
Comply with legal regulations
To set up a legal business, you will need to comply with legal regulations. It is important to adhere to these. Be mindful of the name you choose, seek advice from industry associations or specialized organizations, and draft contracts and terms to protect your own privacy and that of others, as well as to handle taxes properly.
