But the State widely found and this is the beauty of the system

The gazelles are beginning to find their place in the official speeches. With multiple investigations published five years ago, leaders circles are indeed aware that unemployment tragically affecting our country takes its source in the inadequacy of the creations of "gazelles", in large part, these strong growth firms. But the sentence still to emerge is the reason for the flowering of gazelles in the Anglo-Saxon countries. For the first time in may, the President of the Republic referred to the business angels, but he did not explain their role and even less about the tax provisions has been multiply.

Strong growth firms require relatively important to rise and grow capital. These capital beyond what the creator of the company can meet with his entourage, but they are too weak to be of interest to financial institutions such as banks or even venture capital. As early as 1958, Americans had identified that there was a hole in funding between 100 000 and 1.5 million of dollars, capital creation of almost all of the gazelles. And they understood that only individuals the business angels are able to fund these amounts effectively. Why Essentially because the business angel, deciding only with his money, is not to reach of multiple validation expertise that are needed when engaged its shareholders ' money; where economy and speed of decision.

In the United States, hundreds of thousands of business angels invest thus between 50 and 100 billion dollars per year in the creation of gazelles. We have proved by a statistical study that the United Kingdom is investing about $ 10 billion annually which mainly comes from its 50,000 business angels. In France, we are investing only EUR 1.5 billion of which the greater part comes from public funds and only a few hundreds of millions of our thousands of business angels. This weakness results in an annual deficit of jobs from the English gazelles between 120,000 and 200,000 posts. This explains that in 20 years we have a delay of 6 million jobs from our neighbours.

But if the economic success of the American secret boot resides in their gazelles and their business angels, this success should nothing random or other "cultural" explanations which would they be more enterprising than we. It comes from the tax provisions introduced by the Congress in 1958, there are half a century, to make the investment in the creation of businesses the best way to avoid the income tax. Through provisions such as the Sub Chapter S, an unknown type of society in France combining the advantages of the Corporation (risk of the shareholder limited his contribution) and fiscal transparency of the partnerships, the State supports about half of the loss (when losses), which reduces by half the risk taken by the business angels and allows them to be bolder and, therefore, to fund more projects.

But the State widely found and this is the beauty of the system. If its losses are of the order of 20 billion dollars a year, tax revenues generated by the gazelles that exceed 60 billion.

It does not catch flies with vinegar. If the France is of gazelles, must quickly move to business angels 50,000, but this will be that if the angels French, as the Americans or even the English, see their losses partly assumed by the State with simple tax devices as Sub Chapter s. Saurons, in addition, as the Anglo-Saxons, achieve this objective without mounting a plant to gaspretext to official positions If we understand that there will be no gazelles without business angels and not of business angels without strong tax provisions, our country will be much progress.