Italy: Key Issues and Policies

image of Italy: Key Issues and Policies

This review underlines some important points of strength with respect to Italian SMEs and entrepreneurship, notably for medium-sized firms that very often excel in their market niches, have a strong propensity to business collaboration, as well as favourable access to finance. The review also looks at the challenges that lie ahead for Italy, hard hit by the global economic crisis, notably among micro and small firms. Recovery will mean, among other things, removing barriers to business growth, streamlining the complexity of the Italian tax system, and opening the business environment to competition, foreign direct investment and equity financing, as well as improving training and workforce skills.


Business environment and framework conditions in Italy

This chapter examines the business environment and framework conditions influencing entrepreneurship and SME development in Italy. The focus is on: macro-economic conditions; product market conditions; business regulations (i.e. ease of doing business); human resources; access to finance; taxation and social security; transparency and the rule of law; innovation; exporting; and foreign direct investment. Improvements have been made in several areas, particularly in simplifying business regulations and supporting SME access to loans, but there is still room for increasing competition, improving skills, developing equity finance and strengthening the innovation system.




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