Supporting business

Objectives

  • Support start-ups and take-overs.
  • Develop business sector awareness of environmental priorities and issues.

Priority

  • Offer tailored help for self-made entrepreneurs and buyers.

Highlights in 2010

  • Accounts opened for over 25,500 start-ups that were set up less than 1 year ago, i.e. 68% of professional accounts opened at the end of 20101.
  • Substantial support for transfers and take-overs in France by contributing to the “Ile de France transmission” fund set up by the Ile de France Initiative association whose aim is to help finance business takeovers in the Paris region.

Supporting start-ups in France

The number of start-ups broke all records once again in 2010, with 62,000 new companies created over the year (+7% on 2009)2.
As over one in two companies are small entrepreneurs (French “regime de l’auto- entrepreneur”) and over 40% of start-ups are the result of job seekers setting up on their own, the proportion of start-ups with no salaried employees is very high (94%).
Societe Generale's goal is to become a genuine partner for very small business and has had a market share of 10% for several years now3.
Providing start-ups with a specialist network to support their business significantly boosts their chances of survival. Networks partnered by Societe Generale have a 3-year survival rate of 87%, compared with a 3-year survival rate of 66% for the whole of France (source: INSEE - December 2009). Societe Generale's aim is to use these networks and promote them among its numerous start-up clients. Over the years, the bank has forged privileged links with:
  • CCI Entreprendre en France*, created in 1995 by France’s chamber of commerce and industry and the banking profession, its advisors provide advice and concrete help to start-ups and deal with over 50,000 projects each year.
  • France Initiative*4, an association that works alongside local authorities, institutional investors and businesses in promoting new start-ups. Its network is made up of 245 "local initiative platforms" spread throughout France which mobilize local economic resources in sponsoring and funding start-ups (loans on trust with no guarantee or interest).
  • Réseau des Boutiques de Gestion*, an association whose aim is to support the creation and long-term success of businesses and jobs. The network currently has 400 reception points, 750 voluntary workers and 920 start-up advisors.
  • Adie*, an association for the right to economic initiative which assists those marginalized from the labour market and traditional banking system in creating their own company and employment.
  • Fondation de la 2ème chance*, a public interest foundation which sponsors and subsidises those in professional or social difficulty in setting up their own business.
Thanks to these partnerships, Societe Generale is able to contribute to the development of credit and micro credit in France and pursue its ambition to corner a large part of the market of new entrepreneurs (start-ups and take-overs).

Conferences and training

Since the end of 2007, Societe Generale has organised a series of regional conferences for people looking to set up new businesses and entrepreneurs looking to sell their companies. So far, 110 free-of-charge regional conferences (talks and training) in France have been an invaluable source of advice for approximately 3,000 project owners of all ages and from all backgrounds and 3,350 business owners looking to sell their activity.
Conferences on new business start-ups and take-overs will also be organised across France in 2011.
Societe Generale has also contributed to two guides that were given out to participants: "100 conseils de Pro pour créer son entreprise" (100 tips from professionals on setting up your own business) and "100 conseils de Pro pour reprendre une entreprise" (100 tips from professionals on taking over an existing business).

Financing future entrepreneurs

Societe Generale is France's No. 1 non-mutual bank for start-up loans with a 10.14% market share4.
Moreover, the Group fully intends to continue to play a major role in the business start-up and take-over market in 2011, through the welcome and advice it provides for all projects, and by working in close collaboration with the different support networks. It is also committed to assisting its professional clients with the sale of their businesses.
Because its goal is to be become involved as far upstream as possible in the start-up process, notably by assisting young people from the moment they begin their apprenticeships, Societe Generale provides trainees with a craft apprentice loan to finance their projects while they study. The bank also works with the association "Meilleurs Ouvriers de France" to promote apprenticeship via a nationwide contest, “Un des meilleurs apprentis de France” (One of the best apprentices in France) to find the top apprentices soon to be fully-fledged members of France’s various craft industries.
Finally, the bank has taken part in the main start-up trade fairs for several years now (Salon de la micro-entreprise, Franchise Expo, Salon des entrepreneurs in Paris, Lyon and Nantes, etc.), where it provides advice and assistance on a substantial number of potential projects each year.
* Verified by Ernst & Young
NOTES
  1. Including start-ups, take-overs and changes in status.
  2. Source: APCE, new business figures as at December 2010
  3. Source: Etude PEPITES 2009-2010.
  4. OSEO figures at end December 2010
  5. France Initiative figures, 2010 Overview