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France’s personal-services sector offers major potential for investors
Added: (Wed Jan 09 2008)
4 December 2007 – France is thriving with smart choices for successful investment in the personal-services sector, in fields ranging from childcare and healthcare to tutoring, tourism and domestic help.
“France’s 63 million inhabitants – and the nearly 80 million tourists that visit every year – offer huge market potential for international investors who are looking for attractive investment opportunities in the personal-services sector,” says Philippe Favre, President of the Invest in France Agency.
Access to financial resources and advantageous tax incentives are other major positive factors for foreign companies. Many international investors are already present in France, such as leading British home-assistance services provider Homeserve, which has entered into a partnership with Veolia Environnement in order to market home-emergency service contracts remotely.
The demand for personal services in France is increasing dramatically – the growth rate for personal services is the highest of any sector in France, doubling to 12% last year.
The French government considers the personal-services sector to be a priority and has launched a development plan, as well as a dedicated national agency (with detailed information available on the www.servicesalapersonne.gouv.fr web portal). Measures are also in place to help reduce costs through cuts in social-security charges and with the use of the CESU scheme (where ‘CESU’ stands for ‘universal service employment cheque’), which employers are encouraged to co-finance thanks to a 25% tax credit. A total of €95 million worth of CESU was distributed in the first half of 2007, compared with €42.6 million for the same period in 2006.
Over the next few years, the proactive reforms being implemented in France, which improve conditions for overtime working hours and lower household taxes, will also help boost the purchasing power of French residents and will further drive the use of personal services. France’s ageing population is another factor that creates additional opportunities for companies in the personal-services sector.
Investors were present to learn about the wide range of opportunities available in France, and to gain insight into how to build their business in the country, at the trade show devoted to the personal-services industry, which was held in Paris’s La Defense district from 29 November to 1 December 2007.
About Invest in France
Invest in France Agency (IFA) promotes and facilitates international investment in France. The IFA network operates worldwide, with offices in France, as well as in North America, Asia and Europe.
For more information about this press release, please contact Mr Martin Hedges, Director of Communication at the Invest in France Agency in London: mhedges@investinfrance.org
For more information about the Invest in France Agency, please go to: www.investinfrance.org