Many Dutch business owners expect prices to rise again

Many Dutch business owners expect prices will continue to increase, especially in the construction and service industries. Over half of business owners said they cannot simply pass on the increases to their customers, according to Statistics Netherlands (CBS).

Entrepreneurs had to deal with price increases in energy and raw materials, as well as other sectors. The amount of the increased costs they can pass on to their customers varies greatly.

"Almost 4 percent say they can pass on the cost increases in full, and almost 42 percent for a large part," according to Statistics Netherlands. In construction, more than 60 percent believe they can mostly pass on the costs.

Entrepreneurs in the agriculture and fishing sectors struggle the most with making their customers foot the bill; over 31 percent admitted to struggling with it. Retailers and food and drink establishment owners have also struggled with increasing their pricing.

According to the statistics bureau, one in five entrepreneurs said they consider price increases as the most worrying development for their company for 2024. Almost a quarter cited the tightness of the labor market as their biggest concern. This was especially true in construction, the automotive sector, and business services.

Political tensions are mentioned relatively often in the wholesale, transport, and storage industries. Just over 34 percent of entrepreneurs indicated that they are not experiencing any worrying developments.

The research was carried out in collaboration with the Dutch Chamber of Commerce, the Economic Institute for Construction (EIB), MKB-Netherlands, and VNO-NCW.