Thursday, April 21, 2011

France update

In recent years, the [French] government has cut red-tape for new businesses, and boosted the tax credit for investment in research and innovation. Just setting up a company in France used to involve a battle of wills with bureaucracy. Now the time it takes to register a new business has fallen from 41 days in 2004, according to the OECD, to just seven in 2010—lower than it is in Britain or Germany.

Thanks to a simplified procedure, a record 622,000 entrepreneurs started new businesses in France last year, twice as many as in 2007. A recent advertisement for Rouen Business School, in Normandy, captures the innovative mood: “The ten most sought-after jobs in 2010 did not exist in 2004.”
When the burden of government is reduced, good things happen.

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