Doing business in Italy

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The Republic of Italy, which is situated on the Italian Peninsula in Southern Europe and on the two biggest islands in the Mediterranean Sea, which are Sicily and Sardinia. Italy shares northern Alpine boundary with, Switzerland, Slovenia, Austria, and France. San Marino and the Vatican City which are the independent states are domain surrounded by the Italian peninsula, whereas Campione d’Italia is an Italian domain in Switzerland.

Italy is well known to have a rich and colorful history. It has also been known as the home of several European cultures, which are the Etruscans and the Romans, and also was the origin of the society of the Renaissance, which began in Tuscany and extends to the entire part of Europe. The capital of Italy, Rome, has been known as the center of Western civilization and also Vatican City which is located in Rome, is the center of the Catholic Church. The battling clans of the middle ages finally gave way to a nationalist movement in the 19th century, with Italy achieving amalgamation around the beginning of the century.
Tourism has greatly contributed to the Italy economy and also one of the biggest contributors thus far. About 40 million tourists in a year tour to the country mostly for its history, art, cuisine, fashion and culture. Italy also has beautiful shoreline and beaches, mountains and inestimable ancient monuments.
Italy has greatly contributed to the culture of Europe and the world at large. A number of good writers such as Petrarch, Dante and Boccaccio – great artists such as Leonardo da Vinci, Giotto, Caravaggio and Michelangelo and also great composers such as: Vivaldi, Rossini, Monteverdi, Verdi and Puccini have all had a remarkable and lasting influence towards the development of Western civilization. Modern-day Italian filmmakers, architects, artists, writers, composers, and designers carry on in contributing extensively to the Western culture.
Italy is the home of entrepreneurs and small businesses are the engine room of its economy. Moreover, since there are unwritten employments laws governing the job scene in Italy, you can setup your own business which can be an excellent alternative to finding employed work.
Italy can be considered as one of the best places in the world if you want to be self-employed because most of the huge companies present in the nation are SMEs – small to medium sized enterprises. Family-owned businesses are mainly practiced in Italy and if you come to think of it, the key players that are known in Italy are the ones that started their companies with their family and they are still run by their family, with the likes of Pirelli, Benetton, Versace, and Prada.
The economy greatly relies on the strength of small- and medium-sized businesses owned by a family, mainly in the north and center of the country. In the year 2005, four people are been employed by an average Italian company, and around 9 people or thereabout are been employed by industrial companies, compared with an average 15 employees in the EU. In mid-2000, Italy’s largest state holding company, Istituto per la Ricostruzione Industriale (IRI), was liquidated.
Italy most imported industrial products are textiles and apparel, shoes, and foodstuffs. On the other hand, the textile industry has faced a number of foreign competitors in the recent year which has been hitting them hard, particularly from China. The major imported products are fuels, meat, grain products, and various raw materials.
All forms of advertisement are well developed, and the normal mass media (billboards, neon signs, newspapers and magazines, radio, cinema, and television) are extensively used. Over 100 firms handle market research.
Business hours in northern Italy are usually from 8:30am-12:30pm and then 3:30pm-6:30pm. While in central and southern Italy, it is usually 8:30am to 12:45pm and 4:30pm or 5:00pm to 7:30pm or 8:00pm. In August, most firms are closed. Generally, banking hours are usually 8:30am to 1:30pm and 3:00pm to 4:00pm, throughout Monday to Friday. On Sunday’s retail outlet are closed generally.
In spite of Italy economic achievement, few problems still remain. There are limited natural resources, landholdings are normally poor and regularly too small, small sizes of industrial enterprises and productivity, and industrial growth has not been transformed into general prosperity. Italy was vulnerable during the mid-1970s because of the rise in petroleum prices, because the country is over-dependent on energy imports. Moreover, since economic activity is more focused in the north, Italians living there are faced with a high standard of living than those living in the southern part.

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