We’re thrilled to share that Polyglot Group is now certified for Business France’s Cheque Relance Export! But wait a second… What is it and why does it matter?
What is the Cheque Relance Export?
For those of you who don’t speak or understand French, “Relance Export” translates to “Reboot Trade”.
Unsurprisingly, since COVID-19, businesses have had to drastically transform, adapt and remodel their entire business plans. Consequently, many French businesses have turned to trading directly from France to the world as a new business development strategy.
In response, the French Trade & Investment agency Business France, launched the “Chèque Relance Export” (CRE) as a national subsidy to assist SMEs in boosting their export & international trading activities. This subsidy will also help the economy recover and work as a lever of growth for businesses.
Who can benefit from it?
Most French SMEs across all sectors are eligible for this subsidy, except for private companies such as Business France that provide similar trade services.
As per European standards, SMEs would generally be companies with:
– Less than 250 employees globally, with an annual turnover that doesn’t exceed 50M euros.
– Companies that are not owned by a French or International company by at least 25% of equity are not eligible to get this financial aid.
– To be eligible, companies must be able to present an ëxtra Kbis (FR company registration number which is less than 3 months old).
What are the services eligible for the CRE?
There are various services eligible for this subsidy which are critical to assisting companies in their export and international expansion strategy.
Examples include: export audit & diagnosis services, sectorial market research or in-country prospecting services among others.
Here is the detailed list of services eligible for further information.
What’s the process to obtain the subsidy?
The process is very straightforward as companies just have to visit the Team France Export’s website, under the section “aides et financements / Financements publics” and follow the online procedure. Polyglot Group can also facilitate introductions to the Business France team to discuss your project more in detail.
How does it support French companies expanding internationally?
The CRE can cover up to 50% of international support services for French SMEs by inciting them to conduct thorough market research, start engaging with local stakeholders, and build partnerships with international industries.
Depending on your market sector, you can get an in-depth analysis of your target market. For example, companies can request trade representation services to test the market potential for one of their new products and determine if there might be potential clients or customers. This will allow businesses to anticipate consumer trends and competitors.
Companies should opt for these services to identify what would be their best market-entry strategy in terms of:
– which location they should pick to establish a business
– what does the local talent market look like
– what is the local cost of living depending on different cities
With thorough market research, businesses can develop a concrete international expansion strategy before sending any of their employees on the ground.
Which service providers are accredited to provide CRE-eligible services?
There is a list of certified providers available on the Team France Export’s website.
Polyglot Group has the pleasure to announce that we are officially certified for these services in Australia and New Zealand. So should this be of interest to you, , please get in touch with our Partnerships Manager, Alexandre Kohn.
How is boosting international trade & export going to benefit businesses & the global economy at large?
International trade provides access to a world of opportunities for businesses. In fact, trading drives 46% of the $86 trillion global economy.
International trade creates an opportunity for both consumers and countries to experience goods or services that are not easily available in their local markets. For local businesses, going out of the comforts of the local turf can seem daunting, however, capturing international markets can add many advantages to a business.
Let’s explore a few of these advantages:
One of the many advantages of exporting from a local market to the world is that businesses can increase their potential clientele, which results in increased revenues. After a business manages to cover their basic costs, they are likely to see an increase in profitability.
According to the “Barometre International des Affaires” – a study produced by CCI France International (i.e. the international network of French chambers of commerce) and the CNCCEF (the French trade advisors’ international network), companies that have international subsidiaries have been found to be more resilient in the face of economic crisis, and have reported higher turnover compared to companies only selling products/services to their home market.
Facilitating exports and international expansion in business can lead to creating more job opportunities for people. Besides, increase in employment contributes to the growth of the economy.
For example, the French trade commission, Business France has a dedicated international mobility program (called “Volontariat International en Entreprise” also known as VIE) to assist companies in hiring young professionals for missions related to international expansion, and therefore creating more jobs for French companies.
Exporting goods to international markets can diversify your business. If the local market is directly impacted due to unforeseen circumstances, exporting your goods and or services overseas can help your business continue to prosper in other countries.
Businesses can benefit from opening up avenues for a new line of services and products. Depending on consumer behaviours, a business might develop a new product or idea to sell to that specific country.
So if you are a French business looking to export and boost trade, leverage export financing accessible to French companies today! Get in touch today to join other businesses who have successfully exported overseas!