Yes, French entrepreneurs are leaving their birth country. It is an absurd situation with a lot of them going to other European countries to start up their businesses. “Entrepreneur” is a French-coined word that means risk-taker. However, it is one word that does not seem to like its birth nation. It seems France is hostile to it and its proponents.
Today, over 45,000 French nationals live in Silicon Valley and over 300,000 in Britain, all managing their businesses or leading experts in building up a new business for other people. London has more French nationals conducting business there than in some places in France. This concerning situation begs the question, ‘why is this so?’
If you are travelling to France for the first time or after a long time, you should check out AmonAvis for a detailed and accurate review of businesses operating in the country. If you also need to deal with your finances and need a financial operation, you should check out green Panthera. Some reasons businessmen and women from France give for leaving the country are:
1. Lack of serious support from the government
The entrepreneurial spirit in France alone is enough to give the country an immense advantage on the world’s economic stage. However, this is not so because of the efforts of the government. The number one reason many people leave France is because of the government. Bureaucracy is a way of life in France. In fact, it is the way of life.
Getting a license to begin your business can take months to complete, a period where a person’s motivation can flush down the drain. Not only that, you get taxed a lot. These taxes, which are really stifling, makes many people move to countries without such regulations. There, they can build a prosperous business. With capital gains being taxed very heavily, it is no surprise that French nationals will seek refuge in another country, even if the passion for their nation remains.
2. Stifle nature of the French Culture
Another problem with start-ups in France is the culture of the country. France is deeply revolutionary, a country that has built up its name and progress from the hot flames of the ten-year revolution war from 1789 to 1799.
Due to this event, the French developed a ‘what is yours is also mine’ mentality. A principle you will find nationwide, embodied in these terms: liberté, egalité, fraternité. They do not trust anyone who is self-made, and that deep suspicion affects the business of a well-intentioned entrepreneur. It is alarming that many French people deeply and perhaps unconsciously appreciate such a culture.
And it is one of the reasons why people have to leave the country to build a successful start-up. Another issue is the lack of help from the big companies or potential investors. A start-up requires funding, and when deep suspicion, lack of necessary financing, and government taxes become foundational for it, it will eventually die out.
3. The Fear of Failure and its embarrassing consequences
Another reason for this problem is the fear of failure. However, this should not be a problem because entrepreneurs are risk-takers and know that their business idea can fail. In fact, it is not a failure for you, except you refuse to stand again and rebuild what you have lost. The problem with France is the shameful consequences of failing at a business.
Your name and business reputation are almost like wormwood, avoided by everyone that matters who can help. Banks will send emails to potential lenders warning them of companies that have filed for bankruptcy, reducing the lending power to these companies. Therefore, it is not the fear of failure that chases entrepreneurs out. It is the consequences of failing that push them out.
This is not to say that there are no French-owned businesses in France. Far from it, you will have to agree that the number of French nationals building successful companies outside the country is a cause for concern.