What Does Brexit Mean for the Dutch Economy? Business news

Together Abroad27-06-2016 1:04 PM
  Europe is in panic since the British majority voted for leaving the European Union. What does this means for the Netherlands and the Dutch economy?
According to new figures from the national statistics office CBS, the Netherlands earned €20.5bn last year exporting goods and services to Britain, the equivalent of 3% of GDP. This makes the UK the Netherlands’ second most important export market after Germany. Belgium is in third place, followed by the US and France, the CBS said.

A British withdrawal from the EU will cost the Dutch economy €10bn in lost income by 2030, according to calculations by the government’s macro-economic think tank CPB last week. The drop in trade with Britain will mount up to 1.2% of GDP within the next 15 years, the CPB said.
Of the total production of goods and services in the Netherlands, 3.7% is with demand from the United Kingdom. This creates 300,000 jobs, or 3.3% of the Dutch employment, calculated as ING. Within the EU, only Ireland and Malta are more dependent on the United Kingdom.

Is it really so terrible?

At this point, much depends on the deal that will be reached afterwards. With a Norwegian model (participation in...
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Together Abroad10-06-2016 8:38 AM

Starting a Business in The Netherlands – How Do You Employ

Starting your own business gives a strong feeling of freedom and independence concerning the decisions you make; however, it may also have risks. It requires a lot of thinking through and it takes a lot of time. Start-up businesses tend to have a disadvantage statistically. According to the Entrepreneur, 55% of start-up businesses “tend to no longer be operational by the 5th year”. It goes to show that creating a business is but the first step, while sustaining and keeping it functional is a different step to overcome.

Businesses are no longer predictable as more of them appear, and as the global business landscape changes over time. This means that before starting up a business, you should always keep in mind that change is a necessary thing. Being flexible will help your business grow and adapt to changes since “it means more and efficient resources from various places” (Tarcomnicu, Entrepreneur). In a country that is known for its rich history of trade and finance, The Netherlands is a perfect place to start a business for expats, with its large expat community and international institutions. Before starting up, you should know the...
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Together Abroad02-05-2016 9:29 PM

According to BBC news, the growth in the economy of the 19 nation bloc has doubled from the 0,3% rate recorded in the previous quarter, and was above analysts’ expectations of 0,4%. With this growth, the data from Eurostat showed that the unemployment rate of 10,2% is at its lowest in the last four-and-a-half years, and the economy is bigger than it was before the financial crisis, eight years ago.
Howard Archer, economist at IHS Global Insight, said that Eurozone should be able to sustain growth of about 0,4% quarter-to-quarter, but he warned that several factors can influence it like global economic uncertainties and problems, the risk of recurrent terrorist attacks or the possibility of the UK voting to leave the EU in June’s referendum.
While the inflation figures showed that the energy prices fell 8,6% year-on-year in April, the consumer prices rose 0,8% and unprocessed food prices rose 1,2%. The aim of the European Central Bank is to keep the headline inflation close, but below 2%.

Source: BBC

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22-04-2016 8:38 AM
Shell Offers Well-Paid Office Staff Redundancy, Hundreds of Jobs to Go   According to the DutchNews.nl, Shell cuts operating costs by offering office personnel earning more than €75,000 a voluntary package to leave the company. The company made an offer to staff at Shell’s training and R&D centres in Rijswijk and Amsterdam, as well as at the Shell HQ in The Hague and at NAM, Shell’s natural gas joint venture with ExxonMobil. Because of shortage of skilled staff, the staff at the Pernis petrochemicals plant is not included. The workforce in Shell in the Netherlands is approximately 10,000 and between 15-20% is expected to leave, accepting the offer from the company.
Read more at DutchNews.nl...
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Together Abroad22-03-2016 9:29 AM
The American Starwood Hotels & Resorts Monday agreed an increased takeover bid from rival Mariott International. Marriott declared earlier in the day a total of $ 13.6 billion (12.1 billion euros) to put on the table for Starwood. This brings the famous hotel chain Marriott, Ritz-Carlton, Sheraton and Le Meridien under one roof. The companies reached in November already agreed on a merger. Marriott would initially pay $ 12.2 billion for the ownership of Hotel Des Indes in The Hague and the Sheraton at Schiphol.

Last week, a group of investors led by the Chinese insurer Anbang raised the stakes with a counter offer of $ 13.2 billion. Anbang had recently reached an agreement on the acquisition of Strategic Hotels & Resorts, owner of the famous Waldorf Astoria in New York for $ 6.5 billion.

Role reversal
Starwood could not but recognise that the Chinese bid was superior to that of Marriott, but says that now the roles are reversed. It is still unclear if the Chinese continue the bidding war and will come with a higher bid. A spokesman for Anbang was not available for comment Monday afternoon. Marriott justifies the higher bid price by its shareholders cost advantages to flip for up...
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Together Aboad21-03-2016 9:10 AM
Investments in the Netherlands increased in January, but at a weaker pace than in previous months, reports CBS.

Capital expenditure in the first month of this year went up by 4.2 percent in January 2015. This followed a double-digit growth in the last two months of last year.
The strong growth was primarily caused by the surge in car sales by companies in anticipation of new tax rules applicable since 1st January.
The investments which grew this year include residential, freight, infrastructure, and equipment investments. According to CBS, the conditions for investment in March are now less favourable than in January....
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