Entrepreneurship: It was a hell of a long way in France

on the occasion of the G20 entrepreneurs, the firm EY has compared the different ecosystems and established the strengths and weaknesses of the country. France still has gaps in terms of entrepreneurial culture, but it was far away.

Every year, France is advancing in the international rankings related to entrepreneurship. The report released Thursday September 8 by the office EY, on the occasion of the G20 entrepreneurs confirms this evolution.

This study intends to compare the different ecosystems entrepreneurial of the G20 members, without establishing a ranking. To achieve this, the firm observes five key criteria: access to funding, entrepreneurial culture, environment, business, education and the cooperation of organizations. Each country is rated according to its performance in these various areas. The countries are positioned by group and at each time, the Hexagon is between the 5th and the 10th place.

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"The novelty this year," explains Jean-François Royer, partner EY, is that we have taken into account the digitalisation of the economy and integrated each time of indicators new link with the digital. And this new method was more beneficial to France."

France form well his talents...

In fact, the country is doing quite well in this classification for two broad areas : the quality of education, it is at the fourth place. And access to finance where it is in the fifth place. This is good news because the question of money for start-up and growth companies is often much maligned in the country. "What has especially helped is that we took into account the funding of all young companies, an area in which France defends well, as well as alternatives to banks, such as crowdfunding platforms," says Jean-François Royer.

On the education front, France is distinguished by the quality of its scientists. "We also train a lot of coders. Without them, it is impossible to have a successful business in the digital sector," says the specialist. Concerning the co-operation of organisations, the ability of researchers and the world of business to build bridges, the France gets the sixth place.

... But is struggling to remember

The Hexagon has, however, delayed in two areas: the business environment and the entrepreneurial culture. "For the entrepreneurial culture, we measured the perception of the people about the contractors, and asked their opinion on the sustainability of such a career choice, and the country's capacity to retain talent", explains Jean-François Royer. France won the tenth place. "In this area, it has been a hell of a journey, because it was far away but compared with other countries, one realizes that things must still evolve."

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This is a bit the same logic for what the study called "the business environment". France is only a tenth there as well. "We are interested in the taxation and regulation and then, France is in the average. On the other hand, we have also taken account of the infrastructure is digital, as the quality of the bandwidth, and these data allow France to float", adds Jean-François Royer.

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The analysis of this study is therefore rather positive for France, which is located in a good average. "We have sound fundamentals, good scientific profiles and the transition to digital was well under way, and welcomes also the fact that Jean-François Royer. It is not so bad as that!"