Insurance for a new business

Anyone starting a new business takes risks. To an extent, these risks can be insured.

Perform thorough research on the insurance you wish to take out. In some cases, it may be more cost-efficient to put some money aside rather than enter into an expensive insurance policy.

As an entrepreneur you will be dealing with two kinds of insurance:

• Personal insurance (such as health insurance and household contents)

• Business insurance (such as of inventory/stock)

Insurance companies make a distinction in this respect. For example, the third party liability insurance which you have as a private individual does not apply in the context of your business activities.

You are not working in a vacuum. There are various laws and conditions within the framework of which you will have to operate, as anywhere else. You have to do a yearly tax return (belastingbiljet); you must contribute to the national social security scheme (volksverzekering); and you must have health insurance as well as fire, theft and third party liability insurance (WA). Refer to the taxation section for more information.