France is one of the most exciting places as well as difficult countries to set up business in. Foreigners often complain of a close knot French culture where the majority of the population speaks only French. Not knowing the language can sometimes be a hindrance for a businessperson to set base in France.
For United Kingdom people in business, France remains an automatic choice of further expansion of business opportunities due to the proximity. Overall too, France is considered a strong export partner in the European Union. The France business directory has an innumerable listing of companies from varied fields.
Main Reasons To Invest In France-.
1) Large Economy:
France is a significant contributor to the European Union. It is the second-largest economy in the European Union and the sixth in the world. France has approximately 65 million consumers for a variety of products, and that makes it a very profitable investment option. There are around 31 French companies on the list of the world’s leading 500. You can quickly get the list of French companies online or through a database company.
2) Well connected:
France is well connected not only to Europe but to other countries of the world as well. For example, the Charles De Gaulle airport is ranked 2 ND globally by passengers and number one in Europe for Cargo. This is one of the critical reasons for investing in France. In addition to this, France has the second-largest high-speed rail network in Europe and the most extensive road network in Europe.
3) High Level of Productivity:
France boasts of one of the highest levels of labour productivity in the world. The hourly labour productivity is approximately Euro 45.6 per hour compared with the Euro 37.3 average in Europe. Besides being a highly qualified workforce, France ranks sixth in the world for an hourly production rate.
4) Lower Cost of Set up:
France has a relatively lower cost of business setup. The government is keen on getting a majority of the foreign investment and provides subsidies to interested companies and people in the industry. As a result, the overall overheads of a business are also lower when compared with other nations of the world.
5) High on Innovation:
France places a lot of emphasis on the field of innovation. Therefore, there is a lot of investment that goes into the Research and development department. You will be surprised to know that France ranks sixth in the world for the number of patents filed. France also has attracted more than 200 foreign investments in the field of research and development.
6) Political Stability and standard of living:
While investing in any country, people in business and companies often look at political stability. A stable government means more growth for the economy. Also, leading multinational companies or people in the industry may want to recruit foreign nationals, which means that the workforce will only be available when essential amenities are provided. France scores on both aspects. It has a history of relatively stable governments that are keen to promote an open economy and a high standard of living.
Guidelines To Set Up A Business In France-.
Deciding to set up a business in France can mean that you go for a partnership with an existing firm/open a new branch or start up your own business. Setting up a shop in France can be done by completing a few legal formalities for European nationals.
For foreign investors who are not a part of the European Union, you need a letter of authorisation from the concerned ministry. Generally, permission is given within two months by the relevant authority. For companies or people in business looking for tie-ups, you can search for the list of companies in France to find out about them.
Once you have decided on the nature of your business entity, i.e. partnership or sole ownership, you can then invest your attention in studying the market conditions. France is an accepting and thriving market; hence, it will be no surprise that people are willing to try anything new.
A proper business plan is required so that you can go step by step into the setup procedure. Once you have the company set up, you can register yourself in the France business directory in English and French, which will help people know about your company. The majority of the French people know English fluently, but it is better to register in both the language directories.
Getting Past The Language Barrier-.
Many potential people in business are intimidated by the fact that French is a widely used and spoken language. However, there is nothing to be afraid of. Frenchmen are proud of their language and do not see the need to switch to English for communicating. The best way to cross this hurdle is to respect the word and learn it as well. French people hold foreign nationals in high regard who are willing to attempt to learn the language. Learning French can also be a significant deal clincher for your business dealing.
France Knows English
Just knowing that you have attempted to see the language will earn you brownie points with your French associates. You can later switch the conversation to English as almost everyone in France knows English. If you are looking at frequently visiting France, then a French language course is recommended. However, it is better to learn the language in France itself as it will give you ample opportunity to practice your skills. The French companies list can give you the French learning institute options that you can look at.
It is always an added advantage if you can deal with a prospective client in their native language. Since French is the only official language, you can try your hands at learning it. Besides this, some professions do not face the language barrier. For example, if you are setting up an educational institute teaching English, you will not require to know the language. However, the French take pride in their culture and learning French will only enhance your skills. You can even list your business in the French email business addresses directory to gain more visibility in the market.