Companies operating in an ever globalizing world Forget about europe Autumn 2010 Organon pharmaceutics NL, local shop' closed and outsourced' by Us parent company MSD Autumn 2010- today . Chinese enterpreneurs are coming.. Draka NV, Netherlands listed public limited company(high tech wire industries), targeted by European investors' and by Xinmao China but at the end of the day, January 2011, the Italians (Prysmian) came, saw and conquerred Sept 2012: 8th EU-China Business summit(Brussels) http://www.businesseurope.eu/content/default.asp?Pageid=752 Universiteit Maastricht
Companies operating in an ever globalizing world... ‘Forget about Europe...!’ • Autumn 2010 Organon, pharmaceutics NL, ‘local shop’ closed and ‘outsourced’ by US parent company MSD... • Autumn 2010 – today... Chinese enterpreneurs are coming...! - Draka NV, Netherlands listed public limited company (high tech wire industries), targeted by European ‘investors’ and by Xinmao, China... - but at the end of the day, January 2011, the Italians (Prysmian) came, saw and conquerred... • Sept 2012: 8th EU-China Business summit (Brussels) http://www.businesseurope.eu/Content/Default.asp?PageID=752
Business Zooming in on Europe again The financial crash 2008 -European responses EBA: European Banking authority(London) EIOPA: European insurance and occupational pensions Authority( Frankfurt) ESMA: European Securities and Markets authority( Paris) ESRB: European Systemic Risk Board (Frankfurt Universiteit Maastricht
Business – ‘Zooming in’ on Europe again... The ‘financial crash 2008’ – European responses • EBA: European Banking Authority (London) • EIOPA: European Insurance and Occupational Pensions Authority (Frankfurt) • ESMA: European Securities and Markets Authority (Paris) • ESRB: European Systemic Risk Board (Frankfurt)
Entrepreneurship- Economic Drives How to reconcile opposing interests? By formalizing business activities how to get business on track? how to balance interests Contractual cooperation by making use of partnership: either as partners behind closed doors or in public Universiteit Maastricht
Entrepreneurship - Economic Drives How to reconcile opposing interests? By ‘formalizing’ business activities - how to get business on track? - how to balance interests? Contractual cooperation by making use of partnership: - either as partners ‘behind closed doors’ - or ‘in public’
Potential stand alone business formats 1 Sole entrepreneurship(Einmanngeschaft; eenmanszaak, sole proprietaire) Advantages Easy and cheap formation Easy to control Distribution of profits Easy to dissolve rather than double taxation' at company shareholder ly r Beneficial tax law regime owner subject to tax income ol level Universiteit Maastricht
Potential ‘stand alone’ business ‘formats’ 1 ‘Sole entrepreneurship’ (Einmanngeschäft; eenmanszaak, sole propriétaire) Advantages: • Easy and cheap formation • Easy to control • Distribution of profits • Easy to dissolve • Beneficial ‘tax law regime’ owner subject to tax income only, rather than ‘double taxation’ at company + shareholder level
Potential stand alone business formats 1 Sole entrepreneurship(Einmanngeschaft; sole proprietaire Disadvantages: Un limited liability for business conduct Limited financial resources Joined powers with other investors hardly possible Continuity of business entity thwarted Since dec, 10, 2010: Art. L 526-6 et seg French Code de commerce: owner of an Entreprise Individuel a Responsabilite Limitee (EIRL) liable with property affected to the business only Universiteit Maastricht
Potential ‘stand alone’ business ‘formats’ 1 ‘Sole entrepreneurship’ (Einmanngeschäft; sole propriétaire) Disadvantages: • Unlimited liability for business conduct • Limited financial resources • Joined powers with other investors hardly possible • Continuity of business entity thwarted – Since Dec. 10, 2010: Art. L 526-6 et seq. French Code de Commerce: owner of an Entreprise Individuel à Responsabilité Limitée (EIRL) liable with property ‘affected’ to the business only