How expanding across the North Sea can help your company reach new horizons.
Did you know that the UK shares a lot in common with the Netherlands, especially when it comes to agriculture, technology and energy?
As one of the top 10 leading global exporters, Holland has become an innovative hub for AgriTech companies, and one of the top destinations for UK businesses to expand into (Intercompany Solutions).
Intrigued by what this could mean for you? International money specialists Clear Currency tell us more and reveal how you can save money on your business currency exchange to support your move.
Q: Why should businesses choose Holland as an expansion destination?
A: The country’s stable economy, EU status and diverse infrastructure make it an appealing, and lucrative, location for business owners. Rotterdam’s port and Schiphol airport are conveniently located for travel from the UK, making it easy to facilitate overseas trade and travel (Intercompany Solutions).
Currently, agriculture, technology, and energy are three of the country’s most innovative sectors (Profitable Venture). The Netherlands is a world leader in agrifood innovation, and as one of the most wired countries in the EU, is helping to lead the way in sustainable farming (investinholland.com).
The promise of Holland's AgriTech industry offers businesses ample opportunity for growth and development. You may consider purchasing land or office space here to begin a renewable project, trade with Netherland-based suppliers, or partner with another company to help increase your profits and build your product line.
Whatever ideas you may have for innovation, Holland can provide the perfect environment to help you take your SME to the next level.
Q: What business connections do Norfolk and the Netherlands share?
A: Businesses in East Anglia have long depended on the North Sea as a bridge to access mainland Europe, with Holland acting as its closest continental country. It’s easy to travel between the two regions, which is an important consideration if running operations across borders, as it simplifies managing multiple offices and shipping supplies.
As two rural regions with sprawling hills, stunning waterways and coastal towns, Norfolk and the Netherlands share similarities in culture, the types of business operating locally, and each boasts the added benefit of countryside living (Inspiring Travellers).
It’s because of these similarities that formal trade links and agreements are being put into place. The signing of the North Sea Energy Alliance aims to bring more business, investment and employment to Norfolk, Suffolk, Drenthe and Holland. Offshore energy is a growing sector and the partnership will enable the regions to bridge knowledge and resources (Norfolk.gov.uk).
Q: What are the best destinations in Holland for energy and agricultural businesses?
A: AgriTech businesses can thrive in many areas of Holland, embracing the country’s focus on sustainability and innovation. Some of the most popular regions include:
- Amsterdam – the Dutch capital attracts many international companies, due to its proximity to Schiphol airport and highly skilled workforce (jimble.nl). Amsterdam is known as one of the best places in the world for food and tech start-ups thanks to its connectivity and agricultural prowess (iamamsterdam.com).
- Rotterdam – as the second largest city in Holland and home to one of Europe’s busiest seaports, it’s unsurprising that Rotterdam’s most prominent industries are shipping, trade, logistics and green energy (jimble.nl). It’s a great place for those researching and working on sustainable farming methods. Here, you’ll discover unique enterprises such as the city’s floating cow farm, where robots do the milking (kvk.nl).
- Utrecht – an upcoming area in the world of IT, this city is currently a hotspot for tech start-ups and entrepreneurs. There are ample networking and growth opportunities available, as well as government and non-profit funding to help you achieve your vision (jimnle.nl).
Q: What will you need to consider before starting a company in the Netherlands?
A: To start a company abroad, you’ll need to apply for a suitable visa, and register your business with the Dutch Chamber of Commerce (the KVK) and tax administration. It’s vital to learn what rules and regulations, especially environmental limitations, could impact you – speaking to a local legal specialist can help (business.gov.nl).
It's also worthwhile researching what government funding options are available. Finding a local company to help co-found your start-up, or an organisation that offers mentorship, as well as attending Dutch networking and financing events, could help to ensure a successful overseas business plan.
Q: What financial support will UK businesses need if considering an overseas expansion?
A: If you are a business looking to expand abroad you will probably need to recruit an overseas workforce, handle international payroll and negotiate payments with overseas suppliers. This requires an understanding of global money transfers, currency exchange and the risks this can entail.
When you join a currency specialist like Clear Currency, you can manage all your international payments via their secure online platform, access live exchange rates and get one-to-one guidance from their experienced team.
Q: How can Clear Currency help businesses develop an effective FX strategy?
A: By providing guidance on a combination of FX tools, Clear Currency can help you mitigate foreign exchange risk. Their experienced specialists will cut through the jargon, making it easier for you to make decisive and informed business decisions.
Clear Currency is FCA regulated and has a 5* Trustpilot rating.
Protect your business from currency risk and sign up for a free account at clearcurrency.co.uk today.
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