Business Plan in France
You have decided to leave the rat race and become an entrepreneur. You’ve also decided that you want to move to France to start a business. Now the next question is what business do I do? How much should I invest in this business?
There’s a lot to think about before you embark on your journey to become an entrepreneur. The best thing to do is to sit down and really think about it. There’s no better way than to come up with a business plan. Coming with a business plan can also be quite intimidating in itself. Here are some points to consider about a business plan in France.
What type of business
To begin with you need to decide on what type of business you want to start. There are thousands of options that you can choose from such as food & beverage, fashion, sales, arts & craft, IT business and many more. There are basically five industries that you can choose from. They are –
Once you’ve decided on which industry you want to be involved in, the next step is to set up a company.
What type of company
There are many types of companies that you can incorporate in France. However it must be best suited to the type of business that you wish to open there. Here are some of the different types of companies –
You can also become a micro entrepreneur. This is not a business entity per se but it’s quite well known as it has a different tax status that is more favorable than other business structures such as the private limited company.
Where to start your business
Location: This saying is not only true if you would like to invest in a real estate property but it’s also true if you want to start a business. For example, if you’d like to start a restaurant business, some of the factors you must consider are such as –
How much capital to put into the company
Another point to consider for your business plan in France is the amount to capital to start you company and where you can get financing for it.
The amount of capital would greatly depend on the type of business that you wish to start. If you’re looking at a restaurant then definitely the investment can be quite heavy. You would need to consider –
If what you’ve put aside so far is not sufficient, then you would need to either borrow the balance or have a partner who is financially capable of supporting the business. If you don’t have a business partner, it would be quite easy to secure financing in France as the French government is quite supportive of new start-ups. It’s called Prêt à la Création d’Entreprise (PCE). You can get up to EUR7,000 under this type of bank facility. It comes with a relatively low interest rate and a comfortable repayment period.
When to start your business
Basically after you have done all your planning the next step is to incorporate your company. The process is as follows –
After this process the CFE will send this information to other relevant government authorities and bodies and the registered company will receive different types of identification or registration numbers.
6. The final step is that the company is obligated to purchase special accounting books from Commercial Court or authorized shops.
There you have it. Your business plan in France. You’re now ready to start your journey as a business owner.