Is France Good for Startups?
France has an exuberant history. The country was technologically advanced from the ancient era and the genre is still going on. France is titled for some unique and unbelievable modern technologies around the world that elucidate its superiority. Besides, the government’s economic strategies and diplomatic policies are influential among all European countries. It clarifies that the country is well equipped and mature in all aspects. So, you might have an opinion that startups won’t survive in France since the country has already flourished. But, several studies point out that France is a hotspot for startups. In this article, we are going to share if France is truly a better place for startups and how. Let’s explore.
The Strong Economy and Global Influence
France is the largest country in Europe and the 7th largest economy in the world in 2020. The free market-based economy and policies of the country have a positive effect on French startups. The geographic position of the country has also added more convenience to local businesses. Communication and transportation are much easier between France and other countries of Europe, Africa, and Asia. Startups in France usually have a big market due to the number of French-speaking people. The 275 million French-speaking people expose many business opportunities both online and offline. So, France has been an ideal zone for both large to small businesses for economical factors and global influences like these.
Investor Friendly Environment
The economic policy of the French government seems to be quite inspiring for investors. The country allows 1 year of tax discharge for the startups that are eligible for the Young Innovate Companies certification. This is big support at the beginning for any small business since European countries are known for higher tax rates. The Finance minister of France has already submitted the Finance bill of 2021 in the parliament in 2020. The bill includes the French government’s plan to decrease business taxes. According to the bill, the corporate tax rate in France will be reduced from 33% to 25% by 2022. The step of the French government is a clear sign that they are encouraging new businesses to invest and contribute to the economy.
Business Supportive Factors
France is considered one of the hotspots for startups due to its several supportive factors for entrepreneurship. The business setup cost in France is noticeably lower than in other developed countries like the United States, Japan, and Germany. The majority of the workforce in France is comparatively young and more productive. They are well trained and educated. France is globally superior to innovative technologies. As a result, France is a paradise for giant tech brands like IBM, Air France, etc. Tourism is one of the pillars of the French economy. France is attractive for visitors due to its authentic history and culture. Each year the country takes up millions of visitors that contribute about 10% of the total GDP. All the factors jointly create a supportive business environment.
If you are looking for a perfect place to run your startup, France is welcoming you with tons of impressive facilities.
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