France is the 3rd largest economy in the European Union and one of the largest in the world. With 66.9 million inhabitants and a Gross Domestic Product of approximately 2.8 trillion dollars, this country is particularly appreciated for being economically developed with a large, diversified and sophisticated consumer base. Furthermore, the Paris metropolitan region supports the largest concentration of technological and computer engineers after the well-known Silicon Valley. These data show the potential for business opportunities in France.
Of the various existing industries, the areas with the most business opportunities for startups and small businesses are tourism, technology, agriculture, transport, energy and manufacturing.
Major cities most suitable for startups
According to Valuer.ai, Lyon, Nice and Paris represent, respectively, the 43rd, 39th and 26th best cities for startups in a ranking of 50 cities worldwide. Lyon's reasons for finding himself in this position are due to his growing popularity in the startups at a very early stage. Furthermore, it is one of Europe's leading innovative cities. In addition, this city has low living costs and a less busy environment compared to Paris, factors that also appeal to entrepreneurs and investors.
Nice was chosen because it offers large and diverse community of startups, with several events and meetings for entrepreneurs taking place every year. This city is one of the high-tech locomotives in Europe due to its strong technological presence concentrated in the Sophia Antipolis science park. However, Nice also has high costs of living, high taxes and bureaucracy.
Finally, there is the French capital. Paris offers excellent networks of venture capital and other forms of financing, several incubators and accelerators, among many other advantages. Therefore, entrepreneurs and their innovative ideas play a fundamental role in France's business culture. The only disadvantage pointed out in this list focuses on the startups locals do not want to expand internationally, losing the chance of becoming unicorns.
Likewise, two other French cities are listed in 30 most exciting cities and startup hubs in Europe, developed by siliconrepublic (Europe's leading technology, science and startup news source). Montpellier highlighted as Silicon Valley in the south of France and Toulouse for its increase in startups of smart technologies such as IoT.
Once verified the various business opportunities in France, the entrepreneur should seek to know more about the process of starting a business in this country.