BusinessFrance breaks business creation record

France breaks business creation record

A good sign for the French economy? According to the latest INSEE report, this Friday, 1.072 million companies were created in 2022 alone, up 2% from a year earlier. First of all, this is the first time that such a target has been achieved within the same financial year.

In particular, the creation of business under the micro-entrepreneurship scheme increased significantly (+2.8%), as well as in the corporate form (+4.8%). Conversely, the creation of traditional sole proprietorships fell sharply (-7.4%). The decline is even more pronounced in the transport and warehousing sector (-34.5% yoy).

“61% of business creations in the last twelve months are microentrepreneurs, same as in the previous year” notes INSEE.

Business creation accelerated in the fourth quarter of 2022 (+8.5% compared to the same period in 2021). On the other hand, December was not a good month for French firms (-3.4%). Household services (-10%), manufacturing (-16.3%), and education, health and social work (-7.3%) lost momentum in the last month of the year.

MG with AFP

Source: TF1


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