The latest predictions for 2015 regarding France’s economic situation show that the country is on its way to economic growth, as the lower oil prices and a weaker euro seem to be the main ingredients that will boost the country’s economy this year. This is good news for foreign entrepreneurs willing to invest in the country.
France is a country with a rich history and its people value their heritage and culture. Whenever foreign investors do business in France or open a company in this country, they should consider the specific cultural and corporate customs in France. We have gathered some of the most important elements that can be referred to as business etiquette in France.
When we think about entrepreneurs in France, we tend to believe that they are high-risk takers because starting a new business will inevitably present its own particular risks. But as it turns out, it doesn't necessarily have to be that way. And recent findings show that in France, a country that has one of the largest economies in the EU, entrepreneurs make calculated risks and entrepreneurship is based partly on government sources.
France and other European countries plan to introduce a financial transactions tax that could reduce speculation in global markets. The French President recently declared that the tax should apply on all financial products that are at a low rate. France has dropped its demands regarding the inclusion criteria for certain types of transactions that would have been an exception for this transaction tax.
France cancelled the wealth tax and businesses in France will no longer have to pay the contributions that imposed a high rate on earnings over 1 million euros. The tax was initially imposed as a measure that would help the country escape the effects of the global economic crisis, but the measure soon brought a lot of opponents and protests. However, starting February 2015, large companies in France and high-income individuals will no longer have to repatriate profits or use various wealth management measures to avoid the "supertax".
French President Francois Hollande and Economy Minister Emmanuel Macron are planning to integrate a set of controversial measures meant to unlock the country’s stagnating economy. The measures include longer working hours during Sundays for shops, which could prove beneficial for some French business owners, opening up national bus routes and making traditionally close professions in France more accessible. All these are meant to ease the existent economic rigidity.
France’s Finance Minister Michel Sapin said that France’s public deficit will manage to drop below the European Union target of 3.0 percent until 2017. The predictions were made after a recalculation proved that the deficit for 2015 will be lower than previously thought. If France manages to keep this promise, business owners will see an improvement in the overall investment situation in the country.
The French government has made it clear that it will not support the Transatlantic Trade and Investment Partnership (TTIP) between the EU and US, if certain changes are not made to the document. The trade deal would mark the beginning of a historic collaboration between Europe and the United States and it could boost import and export activities in France, as well as create new business opportunities for foreign investors. However, the deal remains uncertain as other counties in Europe, like Germany and the UK, remain skeptical.
France announced that it will take new measures to reduce its budget deficit and that it will make the necessary clarifications. France’s Finance Minister announced that the country managed to make some changes which will be good for reducing the deficit.
French President François Hollande recently declared, in a television interview, that he plans to introduce no more taxes until the end of his term, in 2017, and at the same time resolve the very important issue of unemployment. The news could mean that foreign business owners will become more interested in investing in France.
French President Francois Hollande and Canada’s Prime Minister Stephen Harper met during Hollande’s first official visit to Canada. The two officials discussed various matters and France’s President declared that France and Canada should do more business together. This could be an important opportunity for foreign investors willing to open companies and establish mutual collaboration.
France and Germany, two of the most important economies in the European Union, are working on a set of measures that will help boost investments and strengthen competitiveness. The two countries believe that foreign investments are important for the growth and revitalization of the Eurozone and have agreed to cooperate in order to meet a common goal for a better future of the EU.
France has recently described its plans to pull its economy out of stagnation. The country has to come up with a new budget that will include changes meant to please the European Union. France’s Economy Minister has revealed that a wide ranging bill will be proposed and that the planned changes include creating economic activity and increasing investments in several areas.