I used to live in France and work in technology. To be honest increasing capital gains tax to 60% is not that significant. The entire structure of taxation and social charges and the rights of employees means that French entrepreneurs should simply abandon their country if they want to build a startup as might be seen in the US or UK.
Between the inability to fire people who aren't working out, to the huge amount of time off people can claim (on top of their vacation) because of all sorts of rights, to the 35 hour employee work week, to the amount of tax and social charges the employer contributes, France is unsuitable for startups. Various governments have talked about different incentives for small companies, but the on the ground situation has not really changed.
I have a good friend who runs a small company in France making medical devices. The litany of employee problems that he has to face because he cannot fire people is a nightmare and then there's the taxation. The reality is that he is working to transfer the company's IP away from France and then leave. At that point France starts getting 0 EUR in revenue from him and his firm.
Now, in case you think I 'hate France', here's the thing: I think it's a wonderful country to live in, but it is not suited to startups.
Between the inability to fire people who aren't working out, to the huge amount of time off people can claim (on top of their vacation) because of all sorts of rights, to the 35 hour employee work week, to the amount of tax and social charges the employer contributes, France is unsuitable for startups. Various governments have talked about different incentives for small companies, but the on the ground situation has not really changed.
I have a good friend who runs a small company in France making medical devices. The litany of employee problems that he has to face because he cannot fire people is a nightmare and then there's the taxation. The reality is that he is working to transfer the company's IP away from France and then leave. At that point France starts getting 0 EUR in revenue from him and his firm.
Now, in case you think I 'hate France', here's the thing: I think it's a wonderful country to live in, but it is not suited to startups.