Dutch small and medium sized enterprises (SMEs) make more and more use of alternative lenders from abroad. Two weeks ago Riverbank from Luxembourg opened shop in the Netherlands, the fifth foreign financial institution that offers loans to smaller Dutch companies to do so. The market share of these new foreign investors is still relatively modest, but the amounts in loans they give double annually, Financieele Dagblad reports.
The Netherlands is investing in the startup and scale-up ecosystem in the country. Next year the government is investing 50 million euros, partly into relaxing the rules for the customary wage scheme for new companies and partly into startups and small and medium sized businesses themselves, Minister Henk Kamp of Economic Affairs and State Secretary Eric Wiebes of Finance announced on Tuesday.
Many Dutch small and medium sized businesses set up a company in a tax haven through a Panamanian intermediary. At least 200 offshore companies linked to the Netherlands were active at then end of 2015, Dutch newspaper Trouw reports based on investigation into the Panama Papers.
Small and medium sized enterprises in the Netherlands now have a new opportunity to get a loan - the Netherlands Investment Institution has opened its Commercial Loan Fund, which has about 1 billion euros available to issue loans to SMEs.
SP leader Emile Roemer wants to reduce VAT from 21 percent to 19 percent. He feels that the sales tax increase in 2012 was at the expense of small and medium sized businesses - the job engine of the Dutch economy.
The improving economy has led to better access to credit and financing for entrepreneurs. Last year 78 percent of credit applications were granted, either completely or partially, compared to 62 percent in 2013.
Employers in small and medium sized enterprises have laid off hundreds of employees these last few days in an effort to avoid the new work and security law, and the severance pay it entails, which took effect today.
Small and medium sized businesses are furious about the governments alleged plan to get rid of the so-called "low tariff" value added tax rate on most products and services.
Dutch pension funds, insurance companies and banks will invest an additional 2 billion euros to provide loans for Dutch small- and medium-sized enterprises (SME) in the next three years, the government announced Wednesday. For this purpose, the Netherlands Investment Institution (NLII) is establishing two investment funds Wednesday.
Minister Jeroen Dijsselbloem of Finance wants to offer crowdfunding more space and make it easier for people to invest in businesses through crowdfunding. Dijsselbloem wrote a letter to the Tweede Kamer, lower house of parliament, on Tuesday stating that he wants to remove bottlenecks that hinder the growth of this public funding of enterprises.
The Cabinet wants to make it possible for entrepreneurs in the Small and Medium-sized Enterprise (SME) to be able to borrow more money to finance growth plans, according to a letter to Parliament from Minister Henk Kamp of Economic Affairs Tuesday.