Business Survey Netherlands (COEN)

What is the COEN?

The COEN is a survey that interviews entrepreneurs each quarter about relevant topics, such as developments in turnover, profitability, investments, and staffing levels. Business owners answer questions about experiences in the past quarter and expectations for the current quarter. The business confidence survey combines various of these topics to identify an overall sentiment. This business confidence indicator is available for the Netherlands as a whole, and for various sectors and industries. Based on the results of the COEN, CBS also publishes monthly figures on producer confidence in the manufacturing industry.

1st quarter (2023) - business confidence indicator

Business confidence, the mood indicator of the entrepreneurial Netherlands, is at 6.4 at the start of the first quarter of 2023. A cautious recovery compared to the fourth quarter of 2022. Then business confidence was still slightly negative. With the exception of real estate rental and trading, business confidence rose in all industries. Read more about expectations and judgments of entrepreneurs in the Business Cycle Survey in the Netherlands.

Read about these expectations and conclusions in the COEN Netherlands Business Survey report (pdf, in Dutch) for the 1st quarter of 2023.

Click here for the report on CBS, in English.

Business confidence increased from -0.9 to 6.4 in the first quarter of 2023. In Construction (12.6), Sale and repair of motor vehicles (11.6) and Information and communication (10.2), business confidence is relatively the highest. Entrepreneurs in Mining and quarrying (-6.6), Renting, buying, selling real estate (-5.5) and Accommodation and food serving (3.2) are relatively the most negative.

Expectations	Obstacles
On balance, entrepreneurs are negative about the economic climate (-13.5%) and turnover (-1.8%). Expectations for sales prices/rates (52.4%), turnover abroad/exports (3.2%), personnel (14.3%) and investments (3.1%) are positive on balance.	34.2 percent of entrepreneurs experience a labour shortage as the main obstacle in their business operations. Other obstacles are shortage of production, materials & space, insufficient demand, financial limitations and weather conditions. 23.2% of entrepreneurs experience no obstacles.