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Over the years, the France capital has changed several times. Today, the capital is Paris, France. However, doing business in this city requires several types of capital, including financial, human and intellectual. For an expanding business owner, this post will explain the details for doing business in France along with the various requirements.
Understanding The Culture
In addition to learning French, the national language of France, there are a few aspects that are unique to the France capital. Firstly, France is very proud of their independence. Knowing a bit about the country’s history, the French revolution and their tri-color flag is a good place to start. Additionally, the French have a high level of standard for formality. Doing business in Paris, you will want to make sure that you take care to be as professional as possible. By understanding what French businessmen and business women care about, you will be set up to succeed in the country.
Outsourcing Prevalence
One of the hottest debates in France right now is surrounding the prevalence of outsourcing among French companies. Business owners hoping to expand to the France capital or elsewhere in the country need to keep this in mind. Business owners should of course employ French nationals at their business’s French headquarters. However, this outsourcing trend also indicates that hourly wages for French workers may bit a bit rough on a burgeoning business. Remember to be sensitive to the current business hot topics in France, like outsourcing companies, if you plan on expanding your business internationally.
Prepare Your Financial Capital
The main currency capital of France is the Euro (EUR). Currently, the EUR to USD rate is very close to 1 to 1. At the moment, 1 Euro is equal to 1.05 USD. Since the Euro is slightly stronger than the dollar, you should carefully prepare your finances. Everything will be inflated compare to US prices. Certainly, the French capital currency is an important aspect to consider when doing business in France.
Geographic Advantages
The France Capital, Paris, is filled with culture, art, intellect and opportunities. More so, the location of Paris is highly beneficial as it is one of the most well connected cities in France. Not only does this give you access to the entire country, but also offers access to neighboring countries in Europe. It is an extra benefit that you will not have to worry about a comptroller tax, like you would elsewhere. Since France is bordered by five other European countries, it could serve as a great starting point for further expansion into France.
Business Income Potential
Doing business in France can be difficult from a management point of view. However, the potential for revenues can heavily out weigh the costs. It is relatively easy to start a business and the country overall has a very high income level. This means that with over 65,000,000 people in the population, there is a lot of revenues to be generated. Long term, growing a business capital of France can be a very profitable venture.
French Government Protection
If you have intellectual capital in France, you have fair laws to protect your property. Of course, you do not want to do business in a country where all your trademarks, patents or proprietary processes can be stolen. With protection from the French authorities, businesses are safe to protect their intellectual property under France’s many IP laws created by their Legislature. As a business owner, it’s nice to know that your business is protected, regardless of direct vs indirect competition.
To do business in the France Capital, you should consider the many factors that this country has to offer along with the city of Paris. With a rich history, stable currency, prime location and strong protection, this could be the right move for your business. Certainly, there is a lot of potential in expanding a company to France.
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