4 Things You Should Know Before Making Deals with the EU

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You started cleaning up your old room and found some LEGO blocks beneath your bed. You realized you didn’t know much about who’s responsible for the toys that inspired your imagination back in the days. Thanks to Google search that you’ve finally known who’s in charge.

Ole Kirk Christiansen was the Danish inventor who made children play well with LEGO. But it wasn’t all that astonished you. On another article, you read about Kjeld Kirk Kristiansen, Ole’s heir to the company, who happens to be the richest Danish guy in 2015. True enough, LEGO has inspired your mind. Now, you wanted to be a European businessman.
However, just like any other venture, there are things you need to know first before making ties with the EU. Let me give you four things you should know before making that leap.

1. The Basics

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The European Union is the political and economic collaboration among 28 countries, with a unified market and a single currency. It has its own Central Bank.

2. European Company

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If you would like to make it big in the EU, then start a Societas Europaea, This is a public, limited liability company governed by the laws of the Union.

3. Capital

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Earning requires financial capital, especially if you would like to tap the single market economy of Europe. Depending on the EU member country, an SE may need at least minimum EUR 120 000 capital, divided into shares.

4. Selling Within the Union

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An advantage of having a European company is that you can move goods within the member countries and Turkey deliberately and without restrictions. This benefit also includes the right to free transit which means that once products manufactured outside the EU has entered its jurisdictions, these products are eligible for open trade.

These four facts about the EU have helped the LEGO family in Denmark become financially powerful. While there are still a lot to know, these tips should give you a jumpstart.

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5 Tips on Doing Business with French Companies

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If you find yourself looking for possible countries to do business with, you may come across France as one of your options. Well, we can’t blame you. It’s one of Europe’s best economies.
Having French business partners tends to be easy if you play by their culture. Here are some tips:

1. Learn some French and love it.

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While English is considered a universal language by most countries, the French people take theirs seriously. Take time to learn the language or some conversational phrases and witness how businesspeople will appreciate your effort.
Don’t worry a lot, though. These tycoons most likely know how to speak some to fluent English. They just demand some respect and love for their mother tongue. Remember, they tried to learn the English language, too.

2. Be Formal and Professional.

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If you’re just starting a business with French colleagues, remember to stay professional all throughout. This practice means you may have to shake hands faster and address them either by using more formal forms of speech, such as ‘vous’ instead of “tu,” or Madame (Last Name) or Monsieur (Last Name).

3. Follow French business attire.

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Dress to impress still applies to their culture in a minimalist yet classy way. Feel free to wear accessories but in a delicate elegance.

For men, do away with your mustache and flashy timepiece. For ladies, limit using makeup and high heels. Go for the more conservative colors, more black and neutrals for dresses and coats. Avoid the loud palettes. In France, less is more.

4. Have a double-sided business card and half of it in French.

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Again, French businesspeople love their mother tongue. They’ll appreciate you professionally once they see half of your business card in their language. If you would, also print your last name in all caps.

5. If these businessmen interrupt what you’re saying, it’s a good sign.

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It’s just the French way of saying, “I’m interested. Unlike in other countries, cutting conversations off with questions is pretty positive. So keep yourself ready for these. Stay calm and answer smartly.

Here are just five tips for better business deals with French tycoons. Bonne chance!