An extensive summary (including pictures and examples) of Theme 5 of the booklet that Mr. van der Graaf delivers to 3TTO students.
The summary is 12 pages long and has 4,500+ words.
Learn this summary carefully, a good grade is guaranteed!
Entrepreneur = A person who creates a new business, thereby personally bearing the risks in case of
failure but also reaping the benefits in case of success.
- Most companies in the Netherlands are owned by self-employed people (ZZP’ers)
- More and more (young) people become an entrepreneur.
The consequences of starting your own company
Reasons for people to start their own company:
1. Looking for a new challenge
2. Being able to decide for oneself when and how much they work / a better work-private life
balance
3. Earning a higher income
4. Not being able to find a regular job
5. Bosses that ask the employee to start for themselves, so they can be hired back as a sole trader.
This offers the employer flexibility.
Differences working for yourself and for a boss:
Own company Working for a boss
You can decide when you work, where you work In the end, you need to do what your boss expects from
and what assignments to do. you (although you can have a say in that)
Your income may differ every month and can be Your income is predictable and more or less stays the
much higher of you do well, but also much lower if same every month
you don’t succeed.
You are responsible for the entire company You are only responsible for specific tasks
You need to manage yourself and take initiative You do not always have to take initiative.
You need to insure yourself against losing income You are automatically insured for being ill, disabled and
due to illness, disability and/or unemployment. unemployed.
You need to put money aside yourself for holidays Your employer pays you during holidays (you even get
and for your retirement a holiday allowance!) and you automatically save for
your pension (and the employer pays 67% of that!).
You need to pay yourself for goods or services Your boss pays for all that you need in order to carry
that you need for your work (e.g. phone, laptop, out your work.
transportation, additional training etc.
, Recent government policies around self-employment
Taxes:
- Self-employed people pay less taxes than regular workers in the Netherlands. They pay taxes
over their profit and that tax rate is lower than the tax rate on regular salaries. The self-
employed also receive a reduction for the first part of their profits.
Insurance:
- Many self-employed are not insured for a loss of income as a result of disability, illness or
unemployment. They also cannot charge a higher price to their customers to compensate for
these extra costs.
- Therefore, there is a mandatory disability insurance for all the self-employed to prevent this loss
of income.
How to start a company?
The role of the chamber of Commerce (Kamer van Koophandel)
- If you have an own business you have to be registered at the Chamber of Commerce.
- The chamber of commerce has three tasks:
1. Maintain an administration of all registered companies
2. Give advice to new and existing entrepreneurs. Think about how to get a loan from a bank, how
to hire personnel, how to sell products and services online or how to do business abroad.
3. Organize regional events where entrepreneurs can meet each other while being informed on
recent topics.
The business plan
- Before you start an own business you want to have a solid plan. This plan involves 5
components:
1. Making a personal plan
2. Choosing a form of enterprise
3. Making a marketing plan
4. Making a financial plan
5. Taking care of administration, insurance and permits.
Personal plan
- Mostly looking at yourself and thinking what knowledge and skills to I have? What
characteristics do I have?
Choosing a form of enterprise
Legal entity = An individual, company or organization that has legal rights and obligations
- So when a company is a legal entity it can buy and sell products, get a loan, hire personnel or get
engaged in a rental contract. It also pays taxes and can be held accountable.
Bankruptcy (faillissement) = When a company is not able anymore to meet its financial obligations.
Sole tradership (eenmanszaak) and general partnership (Vennootschap) – not legal entities
- Not all companies are legal entities, and often when people start a company they chose not to
be one.
- When a company is not a legal entity, the owner is engaged in contracts, pay taxes and held
accountable for any debts if the company goes bankrupt.
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