The market at a glance
Size & make up of the market
The size of the SMB market in the Netherlands is comparable with other European countries in relation to the overall population. Small and medium businesses contribute a higher proportion of GDP than other OECD regions but make up a slightly lower than average proportion of employment, signalling that it is a productive sector.
Small businesses in the Netherlands are active importers and exporters. SMBs are responsible for 42% of the total value of exports in the Netherlands and 44% of the total value of imports.
Most popular financial software
Founded in 1984, Exact is the leading provider of accounting software in the Netherlands. Exact Online, which was first launched in 2005, was their first cloud product and is their most popular package today.
The fintech ecosystem
Although small in size, the Netherlands has an active fintech ecosystem, heavily concentrated in Amsterdam. The country is home to several fintech companies valued at over $1 billion including Adyen, Mollie and Bunq.
Top financial software platforms
830K Dutch SMBs have specialist bookkeeping or ERP software
of Dutch SMBs use spreadsheets in place of accounting software
fully outsource bookkeeping to accountants
SMB tech readiness and the fintech ecosystem
Tech readiness and regulatory environment
Dutch SMBs are relatively advanced in their adoption of cloud computing and eCommerce. According to the European Commission, the regulatory burden for setting up and running a small business is less than in other European nations. For example, a company can be set up in one day, although the fee to do so is relatively high.
The Netherlands punches above its weight when it comes the vibrancy of its fintech ecosystem, ranking 8th out of 83 globally according to Findexible. Although small in size, the country boasts a large population of multilingual skilled workers making it an attractive talent hub. It also has the highest rate of digital adoption by consumers in Europe, at 73%.