September 28, 2022

According to a recent survey, French start-ups are hopeful about the future despite the current dire economic situation, job losses in the technology industry, and the COVID-19 pandemic’s comeback.

According to a report released by EY and France Digitale, nearly 40% of French start-up CEOs anticipate their revenue to at least double this year.

When it comes to finance, French tech start-ups are just behind the UK and Germany and have long been a force to be reckoned with. Additionally, France has 26 unicorns, or businesses worth more than $1 billion, and plans to have 100 of them by the year 2030.

Despite the fact that French start-ups are very promising in these uncertain economic times, the study reveals there are some red flags that could stifle growth.

Nearly 600 French start-ups were surveyed about their ecosystem during the previous ten years and their hopes for the future.

After the COVID-19 epidemic, French technology shown its tenacity. Companies reported that their sales climbed by 23% between 2021 and 2020, reaching €8 billion.

According to the report, this year’s percentage of revenue coming from abroad decreased somewhat from 36 percent to 31 percent.

This upbeat view is due, in part, to a tendency for start-ups in industries like education and health tech to become more consumer-focused.

The report brought attention to the fact that recruiting French citizens remains the biggest obstacle.

Foreigners work for almost 75% of French startups. Nevertheless, 87% of the more than 6,000 jobs that survey respondents created were employed in France.

According to Noel, hiring is essential for French start-ups to maintain their rising trend. She claimed that training is essential for doing so.

Source: Euronews
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