If you’re thinking of setting up a new business, you may want to consider basing it in France. While it isn’t necessarily the first place in Europe, you’d consider doing business, the French economy is fast-growing.
There are a lot of benefits that come from doing business in France. However, there are also a lot of things you’ll need to consider too. Here, you’ll discover some of the main things to consider when doing business in this European country.
Understand what type of business you’re running
Before you can set up your business in France, you’re going to need to understand what type of business you’ll be running. There are five different categories to choose from. These include commercial and industrial, independent or freelance, trades and artisan, agricultural and commercial agent.
Each business category has its very own registration centre, so you’ll need to know which type your business falls under.
Learn about exporting goods
If you’re simply planning on exporting goods to France, rather than setting up a physical business, there are some rules you need to be aware of.
Did you know for example, that some goods are restricted in the country? A lot of couriers won’t allow you to send toiletries over to France. There are also restrictions in place for sending other types of goods. Learning all about these restrictions is crucial before deciding whether or not to branch out in the country.
Seek professional advice
By far one of the biggest things to consider when you’re setting up a business in France, is the legalities. Like the UK, there are local laws relating to businesses and taxes. It can be difficult enough understanding the UK’s taxation system, so trying to get to grips with how the French do it can prove tricky.
To ensure you fully understand and comply with the legalities, it’s worth seeking advice from RSM. Their legal experts have a strong understanding of setting up a foreign business. They will be able to help you navigate and comply with the latest regulations. Remember, not only will you have to follow France’s laws, but you’ll also need to adhere to EU laws too.
These are just some of the things you should consider when setting up a business in France. Research is incredibly important. The more you research beforehand, the more prepared you’re going to be. It also gives you the opportunity to discover the key challenges and find ways around them.
