France Announces the Action Plan for Business Growth and Transformation

The new Action Plan for Business Growth and Transformation, shortly known as PACTE in France, which was announced last year is now starting to shape as the French authorities have issued the bill which is now close to being voted and enacted by the Parliament. PACTE was created to help French companies to innovate and create new jobs. Our company formation agents in France can help foreign investors who want to start businesses here.

What is the Action Plan for Business Growth and Transformation?

The Action Plan for Business Growth and Transformation is one of the most ambitious projects of the French government which aims at supporting companies in several fields. PACTE comes as a bill which contains 70 articles which provide for financing solutions, innovation, transformation, and growth.

One of the most important provisions of PACTE is that it was created with the purpose of helping intermediate-size companies, as the number of such companies has grown to nearly 6,000 in France.

PACTE will not only have a positive impact on companies but on the society, as the government plans on focusing on the workforce which will play a more important role in the development of businesses.

Foreign entrepreneurs who want to open companies in France can obtain more information on the requirements from our local advisors.

When will PACTE take off?

As mentioned earlier, the program was announced last year in October, however, the authorities have finalized the calendar for the implementation of PACTE at the beginning of this year. The bill will be voted by the Parliament in September and then it is expected to start unfolding as soon as possible.

PACTE provides for the following:

• -          assistance and counseling from professional associations and social partners for companies;
• -          the development of regions where companies will be able to operate;
• -          the creation of themes based on which the Parliament will draft support measures for companies.

Among the themes mentioned above, funding, digitization, and innovation, transformation and growth are among the most important.

If you are interested in starting a business in France and need guidance, do not hesitate to contact our company registration consultants for advice.