Amsterdam, Business
Business Profile: Netherlands and Amsterdam being one of the founding members of the European union sees itself as being at right at the heart of not only it but Europe in general and with it's prime location and major ports it gives it easy access to all the major European markets.
The country has suffered as a whole during the global downturn but has not yet endured problems on anything approaching the scale of Germany’s present economic downturn, despite its close economic ties, In fact, Germany accounts for over 25% off all the Netherlands imports and exports making it their largest trading partner. Others being there neighbors Belgium and Luxembourg as well as France and the United kingdom.
Many international companies choose the Netherlands as their European hub of operations and since 2006 the tax rate for non residents as well as foreign companies is 10% (Same as Ireland).
This is hoped will attract further companies to choose Amsterdam when looking for a European hub or HQ this, along with Amsterdam’s prime position within Europe and unrivaled international connections from Amsterdam's ever-expanding Schiphol airport as well as Amsterdam's central station and sea port.
Amsterdam offers any employer a highly skilled, multilingual workforce as most Amsterdammers speak at least two languages besides Dutch as well as a stable economic and political climate.
But employment laws are as bad as the French and companies still find employing people as ever a nightmare with red tape as long as your arm and all in favour of the employee. Trying to make someone redundant is also not an easy job.
Recently they have lowered the tax rate to 10% for non resident business owners, copying Ireland in the hope of gaining further investment.
All the major international companies like IBM, Sony and Canon have a presence in Amsterdam as well home grown companies like Phillips and Shell all having their European headquarters in the city.
Amsterdam is the city where the world’s first ever stock exchange was set up so it's no wonder Amsterdam is a major player in the business world, with the financial service sector being one of the largest employers who employ around 10% of Amsterdam’s entire workforce and with over 70 worldwide banks operating here.
The other key businesses are finance, fashion, beer and flowers. Tulips are probably the most famous of all Amsterdam’s exports as the Netherlands supplies over 70% of the world's flowers, Just imagine it 70% of the flowers sold around the world come from this tiny country so in terms of exports, fresh flowers are a massive market along with Heineken who are the largest exporting brewery in the world supplying their beer to over 155 countries around the world.
Over the last 15 to 20 years Amsterdam has also emerged as a strong player in the technological, computing, telecommunications and biotechnology industries and employees many people in theses industries.
Tourism is also a huge market and employees 1000's of workers in hotels, restaurants and all the tourist related businesses. The tourism business in Amsterdam is all year round unlike most other European countries which have a tourist season of just a few months.
Most hotels and other accommodation places are usually fully booked or close to it 11 months a year and 50% full the remaining month.
The business facilities provided in Amsterdam are second to none. The RAI International Exhibition & Congress Center (www.rai.nl) alone attracts tens of thousands of people from around the world every year for different business events. The Rai is the countries largest and one of the world’s leading convention centre's. A huge operation.
Netherlands / Amsterdam Business Etiquette.
Normal business hours are Monday to Friday 9am to 9pm. The Dutch have a great respect for time and pride themselves on their time keeping, so being punctual is quite important.
All Dutch executives will speak English some better than others but you will always get by.
All the Dutch business guys wear suits for business meetings, smart casual wear is worn on social occasions.
If invited to dinner to the home of an associate or friend, it is a Dutch custom to always bring a bunch of flowers and if given a present from a Dutch person it is customary to unwrap and open it right away and not put it away for later.
