Many entrepreneurs rarely check their company's info in the Chamber of Commerce

A total of 42 percent of entrepreneurs rarely or never check their business info in the Trade Register of the Dutch Chamber of Commerce (KVK). This while almost three quarters (71 percent) of the business owners are aware of the fact that they are responsible for a correct and up to date registration, recent research from the KVK among 500 entrepreneurs showed.

Only 7 percent of the entrepreneurs check their info more than once a year, the KVK reported. A total of 19 percent do this once a year, and around 27 percent only check if the registration is still correct after a change has been made.

According to the KVK, it is noteworthy that 42 percent of the entrepreneurs do not know whether their info in the Trade Register is complete and correct.

“Many entrepreneurs assume that their info in the Trade Register is correct, but in practice, the information is out of date regularly,” said Marije Hovestad, a director for Data Provision at KVK. “Examples are forgotten address changes, new board members that have not been added, or old contact details. “

Hovestad added that these can lead to administrative errors, legal issues, financial damage, and or delays when submitting for procedures.