Vendée: companies continue to grow with the continued support of the state

Gérard Gavory, prefect of Vendée, Alfred Fuentes, director of public finance, and Magali Girard, responsible for public activities at the General Directorate of Public Finance, compiled an assessment of the economic situation in Vendée. © Journal of Yonnais Country

according to information provided by Directorate of Public Finance of the Department and Prefecture of Vendee, Monday, December 12Vendée companies are doing quite well.

In any case, this is what comes out of the given graphs regarding the economic situation.

There is no decline in activity, no mass disappearance of companies, the situation is not catastrophic.

Gérard Gavory, Prefect of Vendée

Steady growth despite crises

To prepare this balance sheet State Finance Directorate studied growth indicators 53,000 businesses which the department has listed for 2022.

As of October 31, 2022, the cumulative turnover of Vendée companies of all sizes is 10.56% higher than in 2021. The cumulative increase compared to 2020 is 25.97%, excluding inflation.

Moreover, companies continue to invest massively. “This is an indication of their good economic health,” recalls the prefect. Compared to 2019, the increase is +17.58% and +46.66% on the multi-year curve for seven years.

Faced with hiring challenges and to compensate for rising raw material prices, companies are investing in new, more efficient production tools.

Magali Girard, Head of Public Activities of the General Administration of Public Finance

state aid

“Although the signals are encouraging, concerns remain,” recalled the Vendée prefect. Measures have been taken to overcome these difficulties.

Among them, the departmental crisis resolution consultant is the point of contact that the company can turn to, regardless of the difficulty. 132 Vendée companies now benefit from this system.

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Departmental committee on the study of business financing problems (CODEFI) intervenes in the company to decipher what is holding it back from financing. “It is a structural analysis measured using financial instruments such as audits,” explains Magali Girard. 46 companies used this measure.

As a last resort, the Chief Financial Officers Commission (CCSF) aimed at corporate creditors. This allows for moratoriums on corporate tax and social security debts. 36 companies are supported by the commission.

Focus on measures to combat the increase in energy prices

Companies facing rising energy prices are tightening their belts. In support, State aid will be replaced in 2023: internal taxes on the final consumption of electricity (TICFE); regulated access to historical nuclear electricity (ARENTH); price shield (allows to limit the growth of electricity at the level of 4%).
New measures appear in 2023.
An electricity buffer device is offered to VSEs that cannot benefit from the tariff shield, as well as to SMEs and government bodies and enterprises that do not have competitive activities. The subsidy will be directly included in consumers’ electricity bills. It will cover 50% of the bill’s “energy share”, between a unit price of €180/MWh and €500/MWh. The maximum reduction in the unit price will be €160/MW across all consumption.
A help desk is offered for mid-sized companies (ETIs) and large companies (GEs) and eligible VSEs and SMEs with neither a shield nor a buffer.
All information can be found at in energy prices: support schemes for business.

Avoiding difficulties

Weak signals should be detected as soon as possible.

Alfred Fuentes, Vendée’s director of public finance

In order to prevent critical situations, work is carried out together with all economic players: commercial court, Urssaf, Pôle emploi, State finance department.

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