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Doing Business in France

doing business in france in 2023

A closer look at the French market

Why choose France as a business location?

Situated at the heart of Europe, with all European capitals just a few hours away, France is a veritable logistics hub for international companies.

In this article, discover the factors that make this country one of the most attractive destinations for doing business in 2023:

  • First of all, it’s the world’s sixth-largest GDP. With 68 million inhabitants, France has one of the highest market potentials.

  • Secondly, over the last ten years, France has been the leading country in Europe for attracting foreign investment. This represents 28,000 subsidiaries setting up in the country every year.

  • What’s more, it has remained Europe’s leading destination for FDI. With 1,259 projects announced, this economic powerhouse remains in first place, ahead of the United Kingdom (929 projects) and Germany (832 projects).

  • Last but not least, France benefited from a significant post-COVID-19 rebound, as the impact of the health crisis was greater in 2020 than the European average.

Doing business in France: key growth sectors

Over the past few decades, France has created some fifty competitiveness clusters that are at the heart of its economic development.

The main ones are: agro-technology, food and beverages, aeronautics and automotive, pharmaceuticals and biotechnology, renewable energies.

Food industry

France is a major player in the agricultural and agri-food sector, with a number of competitive advantages: a large market with quality products; a highly integrated logistics sector and a solid, modern distribution system; and an innovative agri-food market.

In addition, agricultural production accounts for 3.5% of France’s GDP.

Aeronautics and space


As a world leader in aerospace, French aircraft and helicopters are an international benchmark.
The industry’s success is underpinned by strong cooperation between industry and government.
France is home to three innovation clusters: Aerospace Valley, ASTech Paris Region and SAFE Cluster.

France leads the EU in light electric vehicles.
The French government is launching a major automotive investment plan to support innovation and the development of autonomous and hybrid vehicles.


Chemistry industry

European leader for patent applications in the healthcare sector, illustrating France’s excellence in medical research and development.
The country is also world leader in publicly-supported vaccines.

With sales of 68.4 billion euros, the chemical industry is an essential component of the French economy.
With added value of €18.6 billion in 2020 (including active pharmaceutical ingredients), the chemical industry accounts for over 8% of the total added value of French manufacturing industry.

Several French holding companies, including the Minakem group, the Novacap group and the Arkema group, have diversified into the production of fine organic chemicals for the pharmaceutical, cosmetics and electronics industries.

Renewable energies

Multinationals have chosen France for its strong wind energy potential, access to marine renewables and solar energy portfolio.
French plants account for a third of Europe’s offshore wind energy capacity. With its immense coastline, France has a key role to play in this industry.

French President Emmanuel Macron has announced that France will have around 40 GW of offshore wind capacity by 2050.

Doing business in France successfully

When setting up a company in France, there are three important factors to consider:

  1. The first is to develop your local understanding of the market. This will enable you to define your go-to-market strategy.
  2. The second factor is to be local. You need to give priority to acquiring local subsidiaries or businesses. That way, you can take advantage of public and private opportunities.
  3. And the third is knowledge of French human resources regulations. It’s important to take environmental regulations into account to avoid product adaptation problems.

ALTIOS France supports you in your global expansion

If you’re ready to conquer the French market, you can count on our teams to support you in all your endeavors.

In fact, ALTIOS makes it easier for you to set up internationally, with local solutions for HR management and the subsidiary creation. We take care of all the administrative formalities involved in recruiting your employees and managing their salaries, as well as setting up and managing your local subsidiary.

We are involved in the day-to-day running of your structure, providing administrative, accounting, HR and tax services. These services enable you to reduce your costs and fixed overheads while benefiting from a professional, high-quality support structure, and all this with a single, committed partner at your side.

Here are three tips for success in France: the first is to think long-term. It takes two to three years to succeed in the French market, so strategy is essential.

Second, choose the right partner. In France, it's essential to know the market and define the right strategy to avoid regulatory problems.

And the third is to be a wine lover, perhaps, to be culturally in tune with your customers and partners!

ALTIOS France Managing Director
Doing Business in France

China’s MedTech Market

china medtech market

December 2022

The MedTech sector in China is quickly becoming the most attractive industry for investors.

With a 70% importing ratio, China is one of the world’s largest medical device manufacturing hubs, as well as a market dominated by foreign multinational companies. In this dynamic context, what will be the potential challenges, and keys to success for foreign players in the coming years?

Key Market Data

The Chinese MedTech market has grown at a consistently rapid rate in the past five years, and in 2019, the market reached RMB 7.82 trillion (US$1.1 trillion), an increase of 10 percent when compared to that from the previous year.

For companies that plan on investing in this promising sector, it is crucial to have an understanding of the Chinese MedTech industry’s statistics:

  • In 2020, China’s GDP saw a slower 2.3 percent growth, but its healthcare spending still rose from RMB 6584.14 billion (US$1,033.1 billion) in 2019, and to RMB 7230.64 billion (US$1,134.5 billion) the following year. However, it is still the 2nd fastest growing industry in the world.
  • China’s revenue in the Medical Technology market is projected to reach US$40.96bn in 2022.
  • The market’s largest segment is Medical Devices with a projected market volume of US$29.07bn in 2022.
  • By 2027, revenue is expected to show an annual growth rate (CAGR 2022-2027) of 8.12%, resulting in a market volume of US$60.51bn.
  • In global comparison, most revenue will be generated in the United States (US$200.20bn in 2022).

MedTech Market Trends

Medical Technology grows steadily due to China’s aging population: the elderly are predicted to reach 300 million by 2025 and 400 million by 2035. Due to a strong rebound of revenue structuring in 2022 and a steady rise in 2023, stable and consistent growth in the industry are anticipated as seen before Covid-19.

This ensures sustained investment in research and development, a proliferation of healthcare services, and the implementation of existing technology.

Moreover, the market presents considerable opportunities for growth. This is possible since the Chinese Government has more recently laid out multiple initiatives to support long-term growth and innovation in healthcare delivery. As for this sector, it will feature more heavily in the 14th Five-Year Plan (covering 2021-25) than it did in the 13th Five-Year Plan.

China’s Market Entry Strategy for Foreign Players

International foreign companies that wish to enter China, usually operate in three ways:

  1. Direct Investing by setting up a base in China via opening a WOFE, Subsidiary, or JV.
  2. Partnership with OEMs
  3. Importing to sell in the market.

However, things are evolving. Following recent global changes, since the pandemic and the tense political restructuring, most firms have realized which is the best way to take advantage of China’s profitable market.

Now companies are focusing on monetizing by selling to local markets rather than exporting. While developing with the end market, businesses are choosing to acquire bigger market shares by localizing the supply chain, rapidly responding to customer demand, and taking advantage of tax policies favorable to investment in R&D.

By localizing, the companies have enhanced their financial incentives, including, but not limited to, lower company tax of 15% and reduced VAT.

At the business model level, MedTech majors are stepping out of their comfort zones with cross-sector partnerships with peers, pharmaceutical companies, providers, and payers alike for disease and health solutions.

Some case studies to explore would be Radiometer’s partnership with AstraZeneca for kidney diseases, Illumina & Sanofi in rare disease treatments, and more.


With the right strategy and partnerships, China’s MedTech industry provides significant opportunities. Medtech companies should evolve and innovate to keep pace with the healthcare system highly driven by digital data-driven trends.

Want to learn more?

If you are still interested in reading about China, you can also read our latest article: Hong Kong Bouncing Back

ALTIOS Corporate Finance supports the French Group Hardis in the acquisition of the Polish Group Cloudity

Press Release – November 15th, 2022

Strengthening the presence in Poland

  • On November 15, 2022, Hardis Group, a French IT consulting and services company, and Salesforce and Workplace (Meta) integrator, announced the acquisition of the Polish group Cloudity, headquartered in Warsaw, with two subsidiaries in Germany and Sweden. Cloudity specializes in the digital transformation of companies; it’s the largest Polish pure player in solutions for the Salesforce platform, Tableau, Mulesoft and Slack. In 2022, Cloudity will achieve a turnover of 10 million euros, an increase of 35% compared to 2021.
  • This acquisition reinforces Hardis Group’s position as a major player in Salesforce solutions in Europe. Through this operation, Hardis Group confirms its desire to become the European leader with a team of 350 consultants and a presence in key markets.
  • Hardis Group successfully combines activities in three areas: IT consulting and services, integration of Salesforce and Workplace, and WMS software (Reflex) publishing. The company, established in 4 countries, employs 1250 people and has a turnover of 133 million euros in 2021.

An operation led by Altios Corporate Finance

  • Altios advised Hardis Group through its Polish teams in the Corporate Finance division. The mandate consisted of identifying Polish players integrating Salesforce solutions able to complement Hardis Group’s offer, contacting potential targets, providing support during the negotiations and preparing the signing.
  • Altios Corporate Finance’s role included:

– Market research and identification of potential acquisition targets

– Approach of targets without a sell side mandate

– Assistance in negotiating the terms and conditions of the transaction

– Analysis and conclusions of the financial, legal, and tax due diligence

  • Altios has been supporting Hardis Group in its international development as part of a long-term relationship. Initially, Altios aided with the creation of Hardis Group’s Polish subsidiary and then with its accounting, HR and administrative management. As the next step, Altios accompanied Hardis Group in its external growth strategy in Poland and will support the integration process and other projects.
  • With the completion of this transaction, Altios Corporate Finance demonstrates its ability to support clients in complex external growth operations and to carry out strategic cross-border transactions. Altios also proves its ability to build long-term relationships with its clients, offering professional advice that is as close as possible to the strategic capital challenges facing companies.
  • Transactional expertise and experience allows Altios and the Corporate Finance team to position themselves as buy-side advisors in small-mid cap international M&A operations.
  • This transaction is the result of a close cooperation between LCL, Hardis Group’s preferred bank, and Altios in the field of internationalization of Crédit Agricole Group customers.

Hardis Group’s Testimonial

« Altios is a key partner in our development in Central Europe. Altios’ teams were already involved in the creation and management of our Polish subsidiary and supported us throughout the Cloudity acquisition process. From the screening of the market to the successful conclusion of the deal, we were able to rely on their professionalism and expertise, particularly in terms of local regulations. But what we appreciate most in our collaboration is the commitment of the Altios team, and its integration into our growth project, which makes it a trusted ally for today and tomorrow.»

Nicolas ODET, CEO Hardis Group

Altios Corporate Finance Testimonial

« This acquisition naturally reflects Hardis Group’s internal dynamism and supports its organic growth. We have been pleased to accompany the client throughout the process. Since Hardis Group could rely on professional support from Credit Mutuel Equity, BMA Groupe and BCTG Avocats, we focused on Altios’ added value – the international and intercultural aspects. We facilitated the growth of the links and synergies that we sensed during the first contacts with Cloudity’s shareholders, who at that time had not yet made a decision on future development strategy. The trust and understanding that emerged from the first exchanges between the Hardis team – Nicolas Odet, President, Yvan Coutaz, General Manager and Karim Ogbi, Director of Salesforce & Workplace, and Cloudity’s shareholders- Pawel Sobczak and Andrzej Chodor, which has continued to deepen during the negotiations, allows us to develop integration processes on several levels and with significant opportunities for both organizations “.

Zdzislaw Dominik, VP Altios Pologne

Press Contact: Alexandre Kaplan, Managing Director Altios Corporate Finance,

MG Tech

ALTIOS supports MG Tech in opening its North American subsidiary.

ALTIOS helped us gain perspective on several issues. Its teams highlighted important points that we had not fully understood, such as the positioning of our employee in Canada.

In addition to a certain number of operational services to be provided, his mission includes representational functions.

He represents MG Tech in North America with the aim of developing the subsidiary.

Xavier Lucas
MG Tech's Managing Director


  • MG Tech, a company which already has ten or so clients in North America, such as Savencia, Nemera Group and Lanthier Bakery (La Fournée Dorée), has decided to set up locally to offer a local service to its major French clients, but also to tackle the local market.


  • Validation of Canada and North America as potential markets for the company.
  • Challenging the creation of the subsidiary in its various aspects, including marketing and communication with a recommendation for the evolution of the graphic charter.
  • The installation of an employee in Canada, through HR support for mobility, in order to secure the international project and the arrival of the employee on site. This support focused on positioning the employee on his new mission (projection into the job, skills development, setting up a roadmap in line with the objectives set, remote management of the employee, etc.).


  • Another interesting thing we’ve learned from ALTIOS,” says Xavier Lucas, “is that you have to put the subsidiary at the centre of the company’s organisation.

  • Setting up a Canadian steering committee involving our Canadian employee, the general and financial management, and also the company’s product developers, in order to provide feedback on the Canadian market and to gain real insight into it.

  • Future adaptibility of our products to the North American market.

Want to know more about MG Tech’s experience and its international development?

Discover more on MG Tech at:

Company Profile

Founded in 2004 by Éric Gautier

Headquarters: Les Achards (France)

4 production sites in La Chapelle-Achard, Champtocé-sur-Loire, Val-d’Izé, Bérus (France)

1 subsidiary in Canada

211 employees

Turnover: 32 millions €, of which 10% from export.

4 800 worlwide sold machines

Expertise: industrial robotics for end-of-line packaging equipment.

Target country: North America


Here is an infographic on the Food and Beverage industry in Canada. It gives you an overview of the Canadian market, for more information, please contact us.

infographic food and beverage industry in canada

Want to know more about other Canadian industries? Please check out The Transportation Industry in Canada, or visit the Altios Canada website.

Here is an infographic on the Transportation industry in Canada. It gives you an overview of the Canadian market, for more information, please contact us.

infrographic on the transportation industry in canada

Want to know more about other Canadian industries? Please check out The Food and Beverage Industry in Canada, or visit the Altios Canada website.

Emblem Cranberry: its successful expansion in a very competitive market, the United States.

ALTIOS helps a company from Quebec to develop its international presence.

It is always helpful to have a local partner with contacts in your industry, especially when they have access to key players.

Jessica Parent
Business Development Director


  • Before the mission with ALTIOS, the United States represented a very strategic market for Emblem Cranberry which knew that it had not reached its maximum potential in this zone, both in terms of volume and diversification. In addition, the company had recently added frozen wild blueberries to its portfolio and wanted to analyze the potential of this new product. The competition for cranberry products was tough in this market due to the presence of large domestic players.
  • In addition to this obstacle, Emblem Cranberry did not have all the necessary information regarding the key players to expand in this market.


  • Thanks to the Agri-Food Export Group’s ZENiTH program, Emblem Cranberry benefited from an evolving field approach to avoid mistakes and reduce risks and expenses, thus ensuring a better return on investment.
  • For this company based in Sainte-Eulalie, Quebec, ALTIOS first conducted a specific market study to evaluate the potential of the company’s products in the U.S. market and to precisely identify opportunities and threats, market access conditions, and the state of competition.
  • ALTIOS then presented Emblem Cranberry with a market development strategy, through the validation of the product offer in the field, the modeling of the “country price” and the production of an operational implementation plan and an enriched commercial development strategy.
  • Finally, key players were identified and meetings were initiated with them.


Following the ZENiTH Program and the support of ALTIOS, Emblem Cranberry has signed contracts with 2 major players in the American market, which are in line with their brand image and are key players well established in the American market.

Two key tips

  • Gather information: it is essential to gather as much information as possible beforehand in order to be able to approach a new market with confidence. Whether it’s about certifications, export regulations, or the players and competition, Jessica Parent advises future exporters to be well prepared.
  • Surround yourself well: find the right partners who will help your company grow.

Discover Emblem Cranberry

Want to learn more about the Food & Beverage market in the U.S.? Check out our infographic!

Company Profile

Founded in 2016

Packaging, Freezing, Sorting, and Calibrating Berries.

95% of exported production.

Mission: develop sales on the American market by defining needs, identifying opportunities and thus confirming and increasing the presence of Emblem Cranberry.

Target: U.S.


China's Booming Industries

local insight china's booming

August 2022

China has a huge influence on the global innovation landscape with its stable and continuous economic growth. With a population of 1.4 billion and a combined market capitalization of USD 600 billion, the country holds a strong position in shaping global trends. China’s business ecosystems based on sustainability, innovation-friendly technologies, and academia-industry collaboration have had pragmatic growth in building the new generation of tech and innovation companies.

In the last 20 years, China’s market size, speed and culture have transformed the country’s growth with new venture investments, incubation, internationalization and continuous innovation. Due to the continuous growth of its economy and stability of its development, global companies and investors have recognized China’s potential in Entrepreneurship


Being the world’s largest carbon emitter, the country has prioritized its optimization of new energy sources and innovative technologies with the intention of building its green economy.

Cleantech stats


By investing and learning from China, foreign companies can take advantage of technological advancement as it continues to lead the way between finance and technology.


With a population of 1.4 billion people China’s expenditure on healthcare to rise to 17.6 trillion by 2030. This sector has experienced exponential growth due to the impact of COVID-19, changing demographics, lifestyle changes and growing health consciousness.

Fill out the form and download the article to learn more

Learn more?

If you are still interested in reading about China, you can also read our last article about China’s post-Covid area:

China's post Covid era

vignette site covid

China, home to 1.3 billion people, the world’s second largest economy, and the largest exporter of goods has shut down its border since early 2020. Shanghai epidemic prevention and control press conference announced that from June 1, Shanghai would gradually resume work and production in an all-around way. China has entered a post-Covid era…

The Omicron epidemic caused an outbreak of the disease in several areas of Shanghai in March 2022 leading to a complete shutdown of the city. The economic development was highly impacted.

Since last June, the situation is gradually returning to normal.

According to Shanghai’s deployment, work has resumed in phases, and the city’s production and life have returned to normal. As of June 1st, 2022, Shanghai has started to reopen its business and service activities in phases. Chinese authorities are optimistic about the economy bouncing back and have issued several policies to help businesses get back on track.

Business Expert talk

Geoffrey BONNEL – Inbound Consulting Team Manager at ALTIOS China

How has Altios China adapted to this situation and helped its customers?

«After two months of strict confinement, Shanghai has started to open on June 1st impacting positively all key activities. Companies are now focusing on reactivating their supply chain and accelerating their sales to catch up with their original objectives.

At ALTIOS, we have implemented new services and plans to support our clients in catching up with the situation and accelerating business activities. According to us, the success of the business acceleration will be related to reducing distance with their partners, the market, and the demand.
We strongly believe that to succeed in China, companies must be willing to localize their decision-making and strategy creation in China. Therefore, we are now proposing new solutions to better help our clients by managing their local staff and acting as delegated management to co-generate strategy, enhance commercial actions, and reach KPIs. Our main objective is to help our clients localize their strategy and commercial activities without the need to open an office in the first place.
Finally, we are also acting as an intermediary between our clients and their local partners, especially when they are lacking a local presence. We are organizing short visits and auditing of the partners to better identify opportunities and difficulties they are facing.

If you want to read the whole article, including our local experts talks, download it below:

/ Group Export Agri-Food  

ALTIOS supported Group Export’s members with validating their potential in the U.S., China and France markets

With ALTIOS by our side, we were able to offer our members great strategic advice and in the field support during the challenging pandemic year and gave them the opportunity to discover new markets.

Martin Lavoie
President and CEO of Group Export Agri-Food


  • Group Export Agri-Food (Group Export) is the largest association of agri-food product exporters in Canada. Group Export helps Québec agri-food exporters, who are members of the group, enter markets outside the province and abroad by organising trade shows, buyers’ meetings, and other events. Group Export is thus forming an essential bridge between the public and private sectors and bolstering the presence of Québec products in foreign markets.
  • When the pandemic opposed a lockdown upon the whole world, lasting almost a full year, Group Export needed to find new ways to support its members that were still looking for new opportunities in foreign markets.
  • Because of COVID-19, hosting large in-person shows or traveling abroad was no longer an option. We, therefore, decided to develop a new program to help our members explore potential new markets without having to leave Canada”, says Martin Lavoie, president, and CEO of Group Export. “With ZENiTH, we wanted to create a unique advisory program in which recognized experts would support the companies with their international development strategy.”
  • To provide this international strategy and in the field support, Group Export reached out to ALTIOS. “We chose ALTIOS because a couple of our members had great experiences working with them in the past”, says Lavoie. “Furthermore, we were looking for a partner with a strong local presence in the key markets we wanted to target, which is one of the many features ALTIOS offers.”


  • Group Export decided to focus on three markets in their ZENiTH program: the U.S., China, and France. “We chose these three because they have a lot to offer to our members in terms of size, of the positivity with which Quebec products are generally welcomed, but also because they’re complex markets that require help from local experts to enter successfully”, Lavoie explains.
  • ALTIOS supported Group Export’s members with validating their potential in these markets, and, in the cases where viability was established, developing a market strategy and connecting these companies with potential, local partners.
  • Having support in the field during the pandemic was a great advantage for most of our members”, says Lavoie. “Even though travel was restricted, they still had the opportunity to explore new markets and establish contact with potential partners, thanks to ALTIOS expertise.”


  • According to Lavoie, the support that ALTIOS offered has put many of the participating Group Export’s members on a path to success. “We have companies that are now selling in the target markets due to their participation in the ZENiTH program, some have established important contacts with which they can build upon and there were even a couple of companies that learned that these markets were not a good fit for their products. This is an important outcome, because they can now focus on other potential opportunities and avoid time and money waste.”
  • Group Export is very pleased with the first edition of the ZENiTH program. “With the help of ALTIOS, we were able to offer our members a great alternative solution during a time that made travel to new markets impossible”, says Lavoie. “We had never provided our members with services that were really tailored to their specific needs and questions before, so it is a big plus for us as a group to be able to offer this type of support.”
  • Even though Group Export’s activities are no longer restricted by the pandemic, Lavoie is convinced the program will have another edition with ALTIOS as a partner. “The local knowledge and network that ALTIOS can offer are a great advantage for any company that wants to expand to a new market.”

Discover more about GEA on:

Company Profile

Founded in 1990

Headquarters: Sainte-Julie, Québec, Canada

500 member companies

Target market: France, the U.S. and China

format vertical site internet GEA