Difficult words: glossary for young entrepreneurs

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 covers damage you caused while working.

Besloten vennootschap (bv)

Private limited company

A company where people with one or more shares are the owners.

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 buy something online.

Concurrenten

Competition

Companies that do or sell the same thing as you.

Crowdfunding

Crowdfunding

A large group of people (the crowd) gives or loans you money for your plans.

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 have personnel.

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.

Leverings- en betalingsvoorwaarden (algemene voorwaarden)

Delivery and payment terms (General terms and conditions)

The agreement between your company and your customer about payment and delivery of your product.

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.

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.

Sociaal ondernemen (duurzaam ondernemen)

Social entrepreneurship (sustainable entrepreneurship)

Doing the right thing for people, animals, and the environment with your company.

Start-up

Start-up

A new, innovative company that quickly wants to grow in size and importance.

Vennootschap onder firma (vof)

General partnership

Several entrepreneurs working together under one company name.

Verdienmodel

Revenu 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 in a stall at the train station.

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

Sole proprietor

An entrepreneur without personnel. Also known as a freelancer. Does individual jobs for different customers