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We know that starting a business in France can be challenging, especially if you’re not familiar with the French language. That’s why we’ve put together a list of resources for entrepreneurs who are looking to start their own business in France. Don’t let language barriers stop you from starting your own business in France.
Where to look
The “Garantie EGALITE Femmes”(“Women’s Equality Guarantee”) is the government’s sole national framework dedicated to female entrepreneurs. Its goal is to make it easier for women to obtain bank financing to fund the start-up, acquisition, or expansion of their firm.
The guarantee is intended for women who are unemployed or in precarious situations and who want to start or take over a business, regardless of the business’s legal structure or field of endeavor.
The “Garantie EGALITE Femmes“ excludes personal guarantees and covers up to 80% of the bank loan amount, up to a maximum guaranteed sum of €50,000. However, the bank is still able to obtain actual guarantees for the items purchased with the loan.
Investments and/or working capital requirements must be financed by the bank loan secured by a “Garantie EGALITE Femmes“. It has a maximum duration of 7 years and can be of any amount.
Contact the France Active territorial association in your area to learn more on how to mobilize a guarantee. Contact: if there isn’t a local support system in your area.
Active France www.Franceactive.Org
Loan of honor
If your personal contribution is insufficient to secure a bank loan for the full financing of your business creation or takeover project, you may be able to increase it by applying for an interest-free loan or guarantees that you will agree to repay “on honor.”.
Getting such a loan gives the project of starting a new firm or taking over an existing one credibility and has a considerable leverage effect for getting more bank finance. This enables you to profit from the assistance provided by the organization that awards it to you throughout the initial stages of your activity’s development and start-up. Two important benefits for the growth of your company!
Who can benefit ?
Companies’ founders and purchasers are likely to provide a strong business plan that includes aspects that persuade the audience that the desired potential market is actually real. In the event that they need money for a project to advance their business, company directors may also request for an honorary loan.
The project leader’s eligibility requirements differ from organization to organization. It’s crucial! It is a loan given to the individual (i.e., “you”) rather than the newly formed business. The “loan of honor” differs from a “refundable advance” in this way.
Who issues this type of loan?
An approval committee made up of business executives, bankers, and other financing professionals will review applications from two nationwide networks before approving any unsecured loans:
In addition to other financial options, other players also provide honorary loans. For example Raise.
According to the France Figures Initiative and Réseau Entreprendre figures, the banks typically provide: – 8.2 euros (for every euro of loan of honor issued); – 13 euros (for every euro of loan of honor granted).
How to apply for a loan of honor?
Send a request for an appointment to the association closest to you:
If your file has strong viability assurances, you will be required to present and defend it before a committee of business executives and experts who will ultimately determine whether or not to approve the loan.
Crowdfunding: People can contribute money to a project. Funding organizations are quite appreciative if your product or service gains traction.
Specific honor loans
There are also other specific honor loans depending on the nature of the project and the purpose of financing:
ADIE
In their own words “Adie is the solidarity association that defends the idea that everyone, even without capital, even without a diploma, can become an entrepreneur if they have access to credit and professional, personalized support, based on trust, solidarity and the responsibility.”
Adie offers the free training “Je Deviens Entrepreneur” (“I become an entrepreneur”). It is a two-week training that will help you create your business faster. The State, local governments, and partners of Adie will pay the full cost of the training. The program lasts at least 35 hours over one to two weeks. It is available all year long.
A maximum of 10 aspiring entrepreneurs may participate in group sessions to learn how to do market research, build personal and professional networks, predict turnover, locate potential consumers, and determine your legal position.
Check for the NEXT WORKSHOPS
Force Femmes
A reputable organization of general interest called Force Femmes offers free assistance to women over 45 who are unemployed. In order for each person to take an active role in their own journey, it directs them toward autonomy in the development of their professional, salaried, or entrepreneurial initiative.
Force Femmes assists women who are seeking for work by connecting them with its network of volunteer human resources professionals who can help with job search advice, guidance, and support.
You can develop your potential as an entrepreneur with the assistance of Force Femmes.
Other sources of help
Childcare assistance for unemployed single parent (Agepi)
You may be eligible to receive childcare assistance (Agepi) from Pôle emploi if you are a single parent job seeker who is in charge of at least one kid and who plans to return to work or training.
