Glossary

Dutch	English	Meaning
Aandeel	Share	Paper that says you own a piece of a company.
Aangifte doen	File a tax return	Officially reporting something to the Tax Administration. For example, your profit.
Aansprakelijkheid (hoofdelijk)	(Joint and several) liability	When you have caused damage or have fallen into debt (with your company), you are personally responsible.
Aansprakelijkheidsverzekering	Liability insurance	Insurance that pays for damage you caused while working.
Algemene voorwaarden	General terms and conditions	Agreements between your business and your clients about payment and delivery of your products.
Bedrijfsactiviteiten	Business activities	Products or services of a company. What your business does.
Bedrijfskosten	Business costs	Money you spend on your business. For example, ads on social media.
Besloten vennootschap (bv)	Private limited company	A company where people with one or more shares are the owners.
Bevoegheid	Authorisation	When you officially have the right to do something for your business
Boekhouding	Financial administration, bookkeeping	Record of all financial data of your company.
Branche	Industry, sector	A group of companies doing the same thing (shared core business). For example, the hospitality industry.
Btw (omzetbelasting)	VAT (value added tax)	The Tax and Customs Administration takes a percentage of the money that your customers pay you for a product or service. This is called Value Added Tax (VAT).
Buffer	Financial buffer	Saved money you can use when you face setbacks.
Call to action	Call to action	Inviting someone to do something, for example, to apply for a workshop.
Concurrenten	Competition	Companies that do or sell the same thing as you.
Consumenten	Consumers	Persons who buy your products or services. Not organisations or businesses.
Crowdfunding	Crowdfunding	A large group of people (the crowd) gives or loans you money for your plans.
Declarabele uren	Billable hours	The hours you work, which you can charge your client for. Not hours you spend on bookkeeping or your website, for example.
Detailhandel	Retail	A shop, in a building or online.
Dropshipping	Dropshipping	Buying abroad and selling in the Netherlands via an online platform. You do not need an office or warehouse.
Eenmanszaak	Sole proprietorship	Company with one owner. It is possible to hire staff.
Factuur	Invoice	A document from the seller to the buyer, stating what they must pay for a product or service.
Failliet	Bankrupt	When a company has more debt than income and so must stop.
Financiering	Financing	Money for your company, for example, a loan from a bank.
Freelancer	Freelancer	An entrepreneur who does individual assignments. For example, as a website builder.
Groothandel	Wholesaler	Sells products to other companies and shops. Does not sell to individuals.
Handelsnaam	Trade name	The name of your company, as registered at KVK.
Handelingsonbekwaam	Not legally competent	As a minor, you are not allowed to make big decisions, like entering into a contract. This is only possible together with your parents or guardian.
Handelsregister	Business Register	A list of all companies in the Netherlands, for everyone to see at KVK.
Handlichting	Limited legal capacity	A statement from the judge that validates the signature of 16 and 17-year-olds.
Inkomstenbelasting	Income tax	The tax you have to pay over your profit (with an eenmanszaak or vof).
Investeren	To invest	To put money into your company.
Kasboek	Cash book	This is where you write down cash payments from customers and cash purchases for your company.
Kostprijs	Cost price	Everything you have to pay before selling your product or service. Such as purchasing, transport, website costs, and insurance (without VAT).
Leverancier	Supplier	A company that sells goods to your company.
Logo	Logo	A recognisable image that belongs to your brand.
Marge	Margin	The difference between the selling price and the cost price.
Marketing	Marketing	Things you do to try and tempt people to buy your product or service.
Marktonderzoek	Market research	Researching if there is a need for your product or service.
Merk	Brand	The name of your product (range), or service.
Minderjarig	Minor / under age	Not yet an adult, younger than 18 years.
Omzet	Turnover	All the money you get from selling your product or service.
Ondernemersvereniging	Entrepreneurs’ association	A group of companies, for example in a shopping street, that work together.
Ondernemingsplan (bedrijfsplan)	Business plan	A detailed plan of your business idea. Often a template is used.
Online platform	Online platform	A website where supply and demand come together.
Ouderlijk gezag	Custody	Your parents or guardians are responsible for you.
Persoonsgegevens	Personal details	Details that prove who you are. For example, your name, date of birth, and citizen service number (BSN).
Pitch	Pitch	A short presentation about yourself or your company.
Pop-upstore	Pop-up store	A temporary shop. A way to find out what customers think of your product.
Rechtshandelingen	Legal actions	What you must do according to the law.
Rechtsvorm	Legal structure	The legal form of your company. This is how the company is organised according to the law.
Registreren	Registration	Sign up for an official list, like the KVK Business Register.
Schijnzelfstandigheid	False self-employment	You are doing an assignment as a zzp'er or freelancer but actually you are in paid employment. So you are an employee and not an entrepreneur.
Sociaal ondernemen (duurzaam ondernemen)	Social entrepreneurship (sustainable entrepreneurship)	Doing the right thing for people, animals, and the environment with your company.
Startup	Startup	A new, innovative company. Often active in tech or IT.
Vennootschap onder firma (vof)	General partnership	Several entrepreneurs working together under one company name.
Verdienmodel	Revenue model	You record how you plan to make money. For example, the customer pays a website builder when the website is ready and a small monthly fee for changes after that.
Vergunning	Permit	Permission, for example from the municipality, for what you want to do. For example: selling spring rolls from a stall at the train station.
Volmacht	Power of Attorney	A certificate stating that you give someone permission to do something for your business. For example, one of your parents.
Voorraad	Stock	Products you keep until you sell them.
Winst	Profit	The money that is left after you have deducted all the costs from your turnover.
Zakelijke bankrekening	Business bank account	A bank account for your company. Everything you buy or sell goes through this account.
Zzp’er Zelfstandige zonder personeel	Self-employed professional without staff	An entrepreneur without personnel. Also known as a freelancer. Does individual jobs for different customers.

Starting under 18

Starting under 18: the basics

Starting a business as a minor: a checklist

How to open a bank account as a minor

Difficult words: glossary for young entrepreneurs

Limited legal capacity: your own business before you turn 18