Numerous businesspersons who are thinking about starting up their own businesses in one of the European Union countries face numerous problems during this process because they do not document enough about that specific country. According to experts, France is among the most popular countries businesspersons opt for and one of the reasons is that French VAT registration process is more simplified compared to other EU countries. Here is a complete list of the most popular reasons why you should choose France if you want to start your own business.
The business environment is favorable
Specialists in the business domain agree to the fact that the business environment in France offers great opportunities and is favorable regardless the industry in which you want to start your company. The financial services make things a lot easier for managers, taking into account that the Euronext Paris is in the top 10 largest financial centers in the world. What is more, France has recently passed a certain act that is supposed to simplify the running of businesses, which has helped numerous companies save more than €3 billion between 2013 and 2014. The VAT rate in this country is of 20%, although depending on the type of business you have and on other variables, you may benefit from reduced rate.
The set-up costs for businesses is much lower here
Another great reason why you should consider opening your own company in France is that the start-up costs here are significantly lower compared to other countries in the world, such as the US, Japan or Germany for instance. The costs are about 1% of the average per capita income, which is definitely good news since in other countries these costs are nearly 9%.
High quality workforce here is also an advantage
The labor productivity per hour in this country is somewhere around €45, which places France on the sixth position compared to other EU countries where this average does not even exceed €40. What is more, studies show that since 2013, nearly half of the workforce available in France of age between 30 and 35 were graduates of higher-education systems.
It is a popular destination
Worth mentioning is the fact that is the no. 1 destination in the world when it comes to business conferences, no. 1 destination for tourists and no. 3 destination for students who want to master a certain domain, so these tell a lot about this country. France is always up to date to the latest trends in a wide range of domains and in order to attract even more innovative entrepreneurs, it managed to adopt the so called “talent passport”, which offers businesspersons from all over the world the opportunity to develop and grow their amazing business ideas in this country.
As it can be seen, these are some of the most common reasons why people from the business sector, regardless the industry, choose France to set up their businesses instead of any other European Union country. However, before making this step, ensure that you document yourself enough about the taxes and other rules and regulations you have to meet in order to be able to start your company here.