Keep your details in the Business Register up to date and prevent unnecessary risks

New research shows that 1 in 3 entrepreneurs surveyed is unaware of this. Many entrepreneurs see the Business Register as something you only have to deal with when starting your business. After that, it fades into the background. Marije Hovestad, Director of Data Provision at the Netherlands Chamber of Commerce KVK, sees this as a risk.

“The Business Register is not just a database. It is an official, public, and legal register. What is recorded there influences how the outside world views a business.”

And the outside world is looking more often than most business owners realise.

Risks in practice

Take the example of a bicycle rental company. The owner notices that customers are hungry after a long bike ride. His entrepreneurial spirit kicks in, and he soon sets up a small kitchen and starts selling croquette sandwiches as well. But in all the excitement he forgets to add his new business activities in the Business Register.

“What this business owner is doing may be a logical and even clever expansion from an entrepreneurial perspective,” says Hovestad. “But if a fire breaks out, he runs the risk of not being properly insured. The terms and conditions for a bicycle rental business differ from those for a catering business. Insurers use the Business Register when assessing claims for damages.”

The survey shows that 43% of business owners are unaware that insurers use their details from the Business Register when assessing a claim for damages. Just when it matters most, in the event of a claim for damages or a dispute, out-of-date information can get in the way. But it goes further than insurance. Hovestad: “If, for example, that business owner wants to lease a van to deliver their croquettes, the leasing company will also check how the business is registered.”

If the business owner forgets to add their new business activity, this has consequences for their insurance, financing, and the business confidence of customers and clients. Not because the business is performing poorly, but because the registration with KVK tells a different story from reality.

The Business Register as a strategic tool for business owners

The Business Register is often seen as merely an administrative obligation. But it can also be a useful tool.

“Business owners can use the register to better understand their market,” explains Hovestad. “How many similar businesses are operating in the region? Which companies have previously been based in a particular location? If others have already tried to open a snack bar in the same spot and failed, then that is something to think about.”

That sort of information is publicly available and can help with selecting a location, doing market research, and assessing opportunities.

In addition, the Business Register plays a role in building business trust. Hovestad: “If you want to do business with a new party, it is wise to check their registration beforehand. Missing or inconsistent details may be a reason to be extra alert. This is how the Business Register helps to reduce the risk of fraud and scams.”

So, the register works both ways. It shows how others view your business. And it offers you a way to make better-informed decisions.

A low-effort obligation

Business owners are legally required to report changes to their business, such as a new address or changes to their activities, to KVK within 1 week.

The survey reveals that 30% of entrepreneurs never check their own business details in the Business Register. “We advise entrepreneurs to check their details at least once a year,” says Hovestad. “You can do this in a few minutes via My KVK. And if you are unsure about how your details should be registered, please contact us. That is what we are here for.”

Check your details

Go to My KVK and check whether your registration is still correct. You can submit any changes directly online.