Business France In Setting Up
Mar0
PARIS: French President Nicolas Sarkozy is bent on taking a bigger role in the running of French companies, summoning bank leaders to his Elysee palace on Friday to order them to boost lending to the economy and smaller companies.
Sarkozy — whose conservative party faces regional elections later this month that polls show favor the opposition Socialists — “asked banks to remain fully mobilized to finance the economy in the recovery that is starting,” a statement issued by his office said.
“He particularly insisted that small and very small companies have access to credit,” it said.
France has also been setting the rules over how banks operating in France award bonuses, justifying the intervention by saying it pumped billions of euros in state aid into banks at the height of the global financial crisis.
When he came to power in 2007, Sarkozy was meant to shake up the stagnant, interventionist French traditions and bring back the French bankers who had jumped across the English Channel for lucrative jobs in London. He embraced the American entrepreneurial spirit and pledged to free up mortgage lending and hiring and firing.
Now, he’s reverted to France’s traditional state-central tendencies and has become one of the foremost cheerleaders for a new global economic order that will rein in the perceived excesses of the free market.
On Thursday, he announced a revamp of his industrial policy, saying that he wants board members in state-owned companies to represent government interests.
The government is the majority shareholder in Electricite de France, nuclear engineering giant Areva, and Aeroports de Paris. It also has stakes in France Telecom, Air France-KLM, GDF Suez, and Renault among other companies.
Earlier this year Sarkozy summoned Renault CEO Carlos Ghosn for an assurance that he wouldn’t switch production of the popular new generation Clio cars from France to Turkey. He complained about carmakers who produce abroad, saying they “no longer have a nationality.”
On Thursday, he said the government will “completely overhaul its shareholders’ role” and be represented by two administrators in companies where it owns shares. He said he wants twice-yearly exchanges with these companies on their strategy, investments and results.
This is a bit of an unusual blog post, because it’s not about a service I provide, and it’s not about a client of mine. But it IS a massive recommendation for a website and a lady you need to know if you’re thinking of starting a business in France.
Valerie runs Start Business in France, a fantastic website full of help and advice for anyone looking to start and run a business in France. The blog offers free advice, and the forum is a mine of useful information and one on one advice from Valerie herself.
In addition, you can pay extra (and I do, frequently!) to speak to Valerie on the phone and get help with your French business issues or queries.
I’ve not found setting up in France very easy, and my situation was compounded by paying someone who turned out to be more than a little useless to help me in the first place – but Valerie has steered me in the right direction, helped me out and even made phone calls on my behalf when things have gotten a little too much for my basic French!
I can’t recommend this lady, and her website, highly enough – so if you’re looking to start or run a business in France, then make sure you bookmark her now!
You can also follow Valerie on Twitter, and become a fan on Facebook. So what are you waiting for?
About Start Business in France in Valerie’s own words:
Launched in October 2008 to keep me busy during my maternity leave, Start Business in France has just celebrated its 1st year and has amassed over 25,000 visits and an amazing 105,000 page views. Families moving from the UK, North America or even Australia to France are now finding some reliable information in plain English to help them start a business in France.
Other posts you may be interested in:
Tags: business in france, france, france business help, start business in france, valerie
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