1. Family business and intangible capital mean long term development to create value.
I would like to share with you a personal initiative I managed with my father during several years to
publish a book in may 08, regarding "Capitalism in France".
Our conclusion is that an “entrepreneurial capitalism” exists in France. The roots of this capitalism
are in the regions with a strong local implantation.
At the opposite side Paris is the symbol of French bureaucracy, “bureaucratic capitalism” and
big firms.
With around 50 interviews in the regions especially in Vendée we underline this “entrepreneurial
capitalism” we named it “Capitalisme à Visages humains” means “Capitalism with humans’
faces”.
The plural is important for us to underline the 50 interviews. It’s not a concept but the result of many
one to one meetings.
For us this “Capitalism with humans’ faces” is characterized by a long term strategy and a real
focus on intangibles assets management.
Our thought could be summarize in 5 steps
1. Today innovation is not an option. Companies need to identify “strategic inflexion points”.
They have to turn such event into a positive way to win in the marketplace.
2. To succeed in this challenge, companies should focus on its own wealth. And today
preponderant form of wealth is intangible capital.
3. New rules and paradoxes of the twenty one century emphasize this trend: globalization,
standardization, sustained development, family business vs edge funds, and the poor
knowledge for the French people to understand capitalism rules…
4. One example of good entrepreneurial capitalism: the economic growth in Vendée thanks
to local intangibles assets.
5. Intangibles assets are the new corner stone for growth. We need to reinvent our
accounting system based on non financials assets.