Business start-up easiest in France
Ernst & Young study finds it is much simpler to launch a start-up here than in the rest of G20
IT IS simpler to start a new business in France than in any other major world economy a study by accountants Ernst & Young has found.
The study, which covered 1,500 entrepreneurs, said that compared to the rest of the G20 nations “and against received wisdom” it is “much simpler to start a business in France than elsewhere, in terms of cost, delays and administrative steps”.
“It takes just five administrative steps and seven days in France to start a business, against 7.6 steps and 22 days on average in the G20 countries. The cost to start a business is 0.9% of the average earnings per inhabitant, against 9% (10 times more) on average in the G20 countries,” Ernst & Young added in the G20 Entrepreneurship Barometer 2013.
The barometer puts France on top of the G20 nations for education and training.
Ernst & Young say France is making progress on its “entrepreneurial culture” as it was at the bottom of the 2011 barometer and has climbed to ninth place this year. Despite this, just 22% of French business leaders feel the country “has a culture that encourages entrepreneurship, compared to an average of 57% across the G20. It is likely that the country’s high-tax backdrop accounts for much of this negative sentiment.”
However, France is no paradise for entrepreneurs as it is 16th out of 20 for access to business finance and 15th on business taxation.
Ernst & Young said the UK was one of the top five countries in the G20 for entrepreneurs, beating the likes of Germany and France, and second only to the US for access to funding. It said: “A competitive tax system, business friendly regulations, skilled workforce and dynamic financial markets have given the UK its edge.”
Get further details on the business barometer on the Ernst & Young website
