Business

From January 2027, young workers aged 16 to 20 will benefit from a significant increase in the youth minimum wage as the government implements a long-standing plan to boost pay for younger age groups. Under the new rules, the percentage of the full adult wage that young people are entitled to will rise, with 17-year-olds reaching 50% and 19-year-olds receiving 75% of the statutory rate. While Minister Hans Vijlbrief acknowledged that businesses may face higher costs, he noted that the increase should help employers attract staff. The changes will also extend to vocational (MBO) students on work-study tracks, ensuring more consistent pay standards across the workforce.

According to the Chamber of Commerce (KvK), the number of businesses closing down fell by 7.2% in the first quarter of this year, marking the first decline in two and a half years. While overall start-ups rose by 2%, sectors such as healthcare and the arts saw a drop in new entries due to ongoing uncertainty surrounding self-employment regulations. Experts suggest the general dip in closures indicates that many struggling owners have already exited the market, though strict rules regarding "bogus self-employment" continue to make potential entrepreneurs more hesitant in specific industries.

TSMC posted record first‑quarter profits in 2026, driven by relentless global demand for AI chips. The world’s largest advanced‑chip manufacturer raised its full‑year outlook and said the Middle East conflict has not disrupted its supply chain or slowed investment in AI infrastructure.

The European Parliament has endorsed a sweeping reform of the EU’s customs union, aiming to tighten controls on the massive influx of low‑value parcels entering the bloc. The overhaul introduces new enforcement tools, harmonised sanctions, and a handling fee for all imports from outside the EU.

The Netherlands saw a slight dip in unemployment in March, signalling a cautiously improving labour market. While the number of people without work remains elevated compared to recent years, new figures show a gradual rise in employment and fewer benefit claims across most regions.

The amount of organic farmland in the Netherlands rose by 3.1% last year, bringing the total area to 86,900 hectares. While organic farming now accounts for 4.8% of all Dutch agricultural land and has grown consistently since 2015, the sector still faces a significant challenge in meeting the government’s ambitious target of 15% by 2030. On average, these organic farms are also expanding in size, reaching 45.3 hectares per holding as the industry continues to scale up.

Dutch industrial output fell by 0.7% in February compared to the previous year, with nearly three-quarters of all sectors seeing a contraction. While the machinery repair industry suffered a sharp 15% decline, other areas like machinery manufacturing saw growth, leaving overall production levels for 2024 relatively flat. Despite this monthly dip in output, business sentiment has shown signs of recovery, as producer confidence became less negative moving into March.

Ikea closed its Duiven store on Easter Monday after a damaged internet cable caused system failures. The company says the issue did not start at the store but still created major disruption. Other branches stayed open, though the warm weather may have drawn customers elsewhere.