French companies are doing much better than you think

Margaux Fodere
modified to

07:36, January 24, 2023

For the moment, French companies are not rushing to the help desk that the government has put in place to help them pay their energy bills. Why ? Because companies are doing much better than we think. More than 80% of business leaders with 10 or more employees are optimistic about the economic situation of their company, according to an Ifop study for Medef.

Yes, French companies are doing well. This observation is taken from an Ifop study for the Medef, which reveals that eight out of ten bosses are optimistic about the state of health of their company. Nearly half of companies with 10 or more employees can count on well-filled order books, like six months ago. Figures that prove that the activity is resisting.

And their will to invest does not change either, recalls Geoffroy Roux de Bézieux, president of Medef. “We could have feared a freeze in investment intentions with all that business leaders are reading about the global recession, the slowing economy, interest rates. At the moment, we don’t see that happening. This gap is growing between an economy that is holding up, and suddenly, a morale of business leaders that is holding up, as well as forecasts that are increasingly alarmist.”

An increase in hiring intentions

On the side of small and medium-sized enterprises, optimism is more measured in the face of the increase in charges and energy prices. But some still get away with it. “We still have a certain number of companies which are doing well, which are still benefiting from a post-Covid period, which have work, which are recruiting”, notes Bénédicte Caron, vice president of the CPME in charge of economic affairs.

Overall, according to a study by Manpower, in one year, hiring intentions have particularly increased in transport and in the automotive industry.