10 Reasons To Do Business In France
France is one of the most powerful global powers in the world but
what’s it like to do business there. Well, here are 10 things you should
know about doing business in France. It Has A Large Market – France
has a market of 65 million consumers. Additionally, France has access
to the single market of the European Union, which has a market of
over 500 million consumers.
France is one of the most powerful global powers in the world but
what’s it like to do business there. Well, here are 10 things you should
know about doing business in France.
It Has A Large Market – France has a market of 65 million
consumers. Additionally, France has access to the single market of
the European Union, which has a market of over 500 million
consumers. Furthermore, France’s market has a high purchasing
power – it is the second largest economy in Europe and the sixth
largest in the world.
It Has Efficient And Well-Developed Transport Infrastructure –
France is the home to the largest road network in Europe and the
second-largest high-speed railway network in Europe. Additionally, it is
home to the second busiest airport with regards cargo and passengers
handling – the Roissy-Charles-de-Gaulle. The efficiency in the
transport network is reflected by the fact that France receives the
largest foreign direct investment in the business of logistics.
France Has A High-Quality Workforce – For instance, the hourly
labour productivity of France is ranked sixth (producing €45.6 every
hour when compared to Eurozone’s average of €37.3). Additionally, as
of 2013, 44% of the workforce age between 30 and 34 were highereducation graduates.
Low Set-up Costs – The cost of setting a business in France is by far
lower than it is in France, Germany, Japan and the U.S. With regards
to renting office space in Paris’ business district at €875/m²/year is
about half the price of renting office space in London’s West
End€1,978/m²/year.
You also should note that setting up a business in France costs about
less than 1% of the average per capita income. In other G20
countries, the average cost is about 9% of the average per capita
income. It is for these reasons that the world’s largest incubator –
Halle Freyssinet, which will bring together more than 1,000 start-ups in
2016, has set up in France.
Favourable Business Environment – With elements such as the
research tax credit (CIR) (which was extended to more than 20, 441
companies in 2012) being open to all companies, France has a very
favourable business environment. The CIR amounted to €5 billion in
2015.
The Responsibility and Solidarity Pact and Competitiveness and
Employment Tax Credit (CICE) amount to a €40 billion reduction in the
production cost for companies in France (equivalent to 2% of the
GDP). These programs are geared towards making it easier for
companies to do business and enable the business community to
create 500,000 jobs by 2020.
Additionally, there are other financial services that create a good
environment for France. For instance, the Euronext Paris is ranked as
the world’s 7th largest financial center. It is also the 3rd largest in
Europe in handling company bonds, and 3rd largest in the
management of financial assets and the 5th financial center in
handling Yuan transactions.
Additionally, France passed the act that simplifies the running of
businesses. The act helped companies save €3.3 billion in the period
between 2013 and 2014. Furthermore, it is estimated that the Single
Individual Social Declaration saving to companies amounted to €1.6
billion in the period between 2015 and 2016.
France has also signed tax conventions with over 120 countries
geared towards eliminating double taxation. The rate of VAT in France
is 20%, thought there is a 5/10% reduced rate depending on your
business and other variables. You can see them here at VAT Global.
France Is A Popular Destination – France is the world’s number one
destination for business conferences, world’s number one destination
for tourists, and world’s number three for students. Additionally,
France adopted the talent passport to attract the best in the various
fields. The French Tech Ticket, a grant and support system to
encourage innovative entrepreneurs, will start to attract the best
innovators around the world to France.
France Is Leader In e-Administration – In this regard, France
ranked 4th based on telecommunication infrastructure, the
population’s level of education, and the on-line services offered by the
government.
https://www.businessblogshub.com/2016/09/10-reasons-to-dobusiness-in-france/
https://www.capitatranslationinterpreting.com/doing-business-in-france/