Investments : Bercy wants to encourage French citizens to invest their savings in enterprises

Bercy wants to mobilize a portion of the savings of the French to support the business. Several tracks are being considered.

How to restart the economic machine ? This is the question that agitates Bercy for weeks, as companies gradually recover their activity. And there was always something, because the yard is huge!!!! Tourism, transportation, automotive... whatever the sector, the containment has done enormous damage. And if the tens of billions of euros in loans guaranteed by the State have helped to save the furniture, the companies are going to have to whip hard to get why, and above all to find capital.

companies Usually finance themselves from banks, investment funds and stock exchanges, on which a part of the savings of savers are invested. But the needs are such that financial actors will not have enough cash to support everyone. The government knows that, he will have to aim wider. And in this context, Bercy has an idea : surmobiliser the French, at a time when their nest egg has never been so important...

Nothing with the containment, the French have spared almost 60 billion euros more, according to data from the Bank of France. A figure as historical as it is stratospheric, that still comes out to swell the more than 3000 billion euros that the French already have through insurance-life, books and their accounts to view... "The situation is exceptional. They will have to do more", says one of the side of the cabinet of Bruno Le Maire. Especially with hundreds of thousands of SMES.

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A portion of the savings of the French can help with the restart. "This is the major issue of the State in the coming weeks : to convince the French to use the mattress they have accumulated," says the president of the Circle of savings, Philippe Crevel. And perhaps even more importantly, with the books and accounts to view...

"The French are cautious. It is necessary that one is inventive"

Then, of course, the French are not going any place from one day to the next day in business. Especially in the context of current uncertainty. But a small part of their savings can be, and could change the game... "This would be significant for the economic fabric," stresses the vice-president of the Finance Commission of the national Assembly, Daniel Labaronne (LREM). It is, in any case, the bet of the government.

The challenge is of size. "The French are quite careful. It is necessary that one is particularly inventive," added the parliamentarian. How to do it ? Several solutions exist : first, energize the devices already in place, increasing, for example, the tax benefits to which they are linked : the level of the deduction, duration of the investment and benefit. "You need the tax benefits. This is the best way to pool risk," says Philippe Crevel.

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Currently, individuals may invest in companies via multiple vehicles ; it all depends on their size : the listed groups or start-up ? For listed companies, in addition to the stock Exchange, investors can go towards a savings plan in shares (PEA), which give access to all the companies introduced on the stock Exchange (small and large).

on The side of companies outside the market, the devices are more numerous. In addition to the direct investment, two of the most notable means to invest in SMES and VSES are the mutual funds investment in innovation (FCPI) and investment funds proximity (FIP). Investors can also place part of their savings in enterprises through venture capital funds, which, however, are more rare and more risky, or crowdfunding, which has grown strongly in recent years.

Open the "solidarity fund" for businesses to investors

But Bercy is not envisaged only a boost to existing devices. Even if the works are only at the stage of reflection, other avenues could be considered, such as open the "solidarity fund" for businesses to investors. Created at the beginning of the crisis of the Covid-19, this fund enables companies to receive aid (up to 3500 euros). The French could they contribute to such a fund, which would be transferred in the investment vehicle ? It's not impossible. There remains the question of the "counterparty" : tax incentives and/or remuneration on the capital invested ?

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The State and Bpifrance, its military arm financial, are also working on an investment fund that would allow investors to invest in the fabric of French SMES. But the project, which was to be officially launched in the spring, has been temporarily suspended because of the crisis and of the uncertainty about the health of many SMES...