Overview

In France, SMEs play a very important role in the national economy. They create jobs and are a significant source of revenue for the government through taxes. More than 90% of these businesses are family-owned, meaning that the family holds the majority of voting rights. The business owner, often acting alone, must ensure the internal operations of the business (managing its finances, in particular) and navigate the business environment. It turns out that two main theories are at odds regarding the economic management of a business. For Friedman, who presents the shareholder theory, the sole objective of a business is profit maximization and the distribution of dividends. Whereas for Freeman, who outlines the stakeholder theory, each individual must be taken into account, and the primary role of the business should not be profit. This is why we will examine the role of taxation within a French family-owned SME. We decided to first conduct a theoretical analysis, then go into the field to meet with the relevant stakeholders.

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