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Italy is one of the largest economies in the European Union and has a rich cultural heritage, which makes it an attractive destination for businesses. However, like any other country, Italy has its fair share of business risks that need to be considered before investing in the country. In this article, we will explore some of the risks that businesses face in Italy and how they can be mitigated.
BusinessRiskTV is a global business risk management platform that provides businesses with the tools and resources they need to manage risks effectively. The platform offers a wide range of services, including risk assessment, risk mitigation, and risk monitoring. Businesses can access these services through the BusinessRiskTV website, which also provides a wealth of information on various business risks.
Italy Business Risks
- Political Risks
Italy has a history of political instability, which can be a significant risk factor for businesses. The country has had over 60 governments since World War II, and the political climate can be unpredictable. Businesses need to be aware of the political situation in Italy and how it can impact their operations.
For example, changes in government policies or regulations can significantly affect a business’s operations. In addition, political protests, strikes, and demonstrations can disrupt supply chains, transportation, and communication networks, leading to delays and losses for businesses.
To mitigate political risks, businesses need to keep a close eye on the political situation in Italy and develop contingency plans for any potential disruptions. This may involve building relationships with key stakeholders, such as government officials and industry associations, and having alternative supply chain and transportation options.
- Economic Risks
Italy’s economy has struggled in recent years, with slow growth, high debt levels, and high unemployment rates. Businesses operating in Italy need to be aware of these economic risks and how they can impact their operations.
For example, businesses may face difficulties accessing credit or financing, which can limit their ability to invest and grow. In addition, high taxes, regulations, and bureaucracy can make it difficult for businesses to operate efficiently and effectively.
To mitigate economic risks, businesses need to carefully evaluate the economic environment in Italy and its impact on their operations. This may involve conducting a thorough risk assessment and developing strategies to manage financial risks, such as diversifying funding sources and managing cash flow.
- Legal Risks
Italy’s legal system can be complex and challenging for businesses to navigate. The country’s legal framework is based on civil law, which can differ significantly from common law systems used in other countries.
Businesses operating in Italy need to be aware of the legal risks they face and ensure they comply with all relevant laws and regulations. This may involve seeking legal advice and working with local legal professionals to ensure compliance with Italian laws.
Some of the legal risks businesses may face in Italy include intellectual property infringement, contract disputes, and labor law violations. To mitigate these risks, businesses need to have a clear understanding of their legal obligations and ensure they have appropriate legal protections in place.
- Cultural Risks
Italy has a unique culture that can present challenges for businesses operating in the country. For example, communication styles, business practices, and etiquette may differ significantly from what businesses are accustomed to in other countries.
To be successful in Italy, businesses need to understand and respect the local culture. This may involve building relationships with local stakeholders, such as customers, suppliers, and employees, and adapting their business practices to align with local customs and expectations.
- Cybersecurity Risks
Like any other country, Italy is not immune to cyber threats. Businesses operating in Italy need to be aware of the cybersecurity risks they face and take steps to protect their data and networks.
Cyber threats can take many forms, including data breaches, ransomware attacks, and phishing scams. To mitigate cybersecurity risks, businesses need to develop robust cybersecurity policies and procedures, train employees on cybersecurity best practices, and implement appropriate security measures, such as firewalls, antivirus software, and encryption.
- Environmental Risks
Italy is known for its beautiful landscapes and historical sites, but it also faces environmental risks that can impact businesses. For example, natural disasters such as floods, earthquakes, and wildfires can disrupt supply chains and damage infrastructure.
In addition, Italy has faced significant air pollution problems in major cities, which can lead to health risks and regulatory challenges for businesses operating in those areas.
To mitigate environmental risks, businesses need to consider the potential impacts of natural disasters and climate change on their operations and supply chains. This may involve developing contingency plans and working with local authorities to ensure compliance with environmental regulations.
Italy is a country with many opportunities for businesses, but it also presents a range of risks that need to be carefully considered. By understanding and managing these risks, businesses can position themselves for success in the Italian market.
BusinessRiskTV provides a valuable resource for businesses operating in Italy, offering a range of risk management services and resources to help businesses navigate the challenges they may face. By leveraging these resources, businesses can develop effective risk management strategies and mitigate the risks associated with operating in Italy.
Understand the risk business leaders face when operating in Italy. What are the political economic technological legal and financial risks of doing more business in Italy? Assess the risks to be more confident on trading profitably in Italy.
2 May 2023 – Italy’s manufacturing sector contracts sharply in April – PMI
Italian manufacturing output has dropped to lowest level since September 2021.
2 May 2023 – The olive tree is a symbol of Italy, and its production of olive oil is a major economic driver for the country. In recent years, however, olive trees have been dying in large numbers due to a bacteria spread by insects. This has had a devastating impact on the Italian food chain, and it is also having a ripple effect on the global food supply.
The bacteria that is killing the olive trees is called Xylella fastidiosa. It is a plant pathogen that is spread by insects called sharpshooters. The sharpshooters pierce the bark of the olive trees and inject the bacteria into the sap. The bacteria then travels through the tree’s vascular system, causing it to die.
The first outbreak of Xylella fastidiosa in Italy was in 2013, in the Apulia region. Since then, the bacteria has spread to other parts of the country, including Tuscany, Lazio, and Campania. As of 2023, an estimated 21 million olive trees have been killed by the bacteria.
The death of so many olive trees has had a devastating impact on the Italian food chain. Olive oil is a major export for Italy, and it is also used in many traditional Italian dishes. The loss of olive oil production has led to higher prices for consumers, and it has also forced some restaurants to change their menus.
The death of the olive trees is also having a ripple effect on the global food supply. Olive oil is a major ingredient in many processed foods, and its price has been rising due to the shortage. This is having a knock-on effect on the prices of other foods, as well.
The spread of Xylella fastidiosa is a serious threat to the Italian food chain and the global food supply. It is important to find ways to control the spread of the bacteria and to protect the olive trees.
In addition to the economic impact, the death of the olive trees is also having a social and environmental impact. Olive trees are an important part of the Italian landscape, and their loss is a loss of biodiversity. Olive trees also provide a habitat for many birds and other animals.
The Italian government is taking steps to control the spread of Xylella fastidiosa. These measures include quarantine zones, the use of pesticides, and the planting of resistant olive trees. However, it is a difficult and expensive battle, and it is not clear if it will be successful.
The spread of Xylella fastidiosa is a reminder of the fragility of our food system. We need to be more vigilant in protecting our crops from pests and diseases. We also need to find ways to adapt to the changing climate, which is making it more difficult to grow crops.
The death of the olive trees is a tragedy, but it is also an opportunity to learn and grow. We need to find ways to protect our food supply and to build a more sustainable food system.
12 April 2023 – Italy Wants to be the First Country to Ban Cultivated Fake Meat
Giorgia Meloni, wants to protect Italian culture and health by maintaining traditional food values by proposing the world’s first ever national ban on the production and marketing of cultivated meat—meat grown from stem cells in a bioreactor—and is considering another on insect-based protein. The draft law, which aims to prevent non-conventional food from appearing on Italian tables, suggests a fine of up to $65,000 for violations by retailers or producers.
Upon introducing the bill to the Senate on March 27, Francesco Lollobrigida, the country’s Agriculture and Food Sovereignty Minister, suggested that so-called “synthetic” foods were a threat to small food producers, the environment, Italian food culture, and even human health.
Even if Lollobrigida’s bill is passed by the Italian parliament, it wouldn’t be able to protect Italian dining tables from future imports of cultivated meat produced elsewhere in Europe once they pass E.U. regulatory approval, due to EU trade laws.
8 September 2022 – EU wants to change the fiscal rules on debt for member countries including Italy.
The current, suspended due to Pandemic and war in Ukraine, EU fiscal rules for Italy and all EU member countries are that public debt must be below 60 percent of gross domestic product (GDP) and government deficit below 3 percent of GDP.
Italian debt is currently around 150 percent of Italy GDP.
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If an EU member country breaks the EU debt level rule, the EU rule is that the member country should cut debt each year by 1/20th of the difference between its current level and 60 percent of GDP. No chance!
EU officials now say the 1/20th rule will therefore have to go – either explicitly, or because governments and the Commission agree not to apply it. What will the EU replace the old rule with if the EU don’t just ignore the old rule? Either way many northern EU member countries may start to get fed up with southern countries perceived abuse of the fiscal rules. German and French opinions are the only ones that really matter, particularly the former.
The European Commission will present its proposals on how the framework could be changed in the second half of October, aiming to publish well after snap elections in Italy on 25 September, to avoid making the debate an election issue in the euro zone’s third biggest economy.
5 July 2022 – Italy declares state of emergency in five regions over drought July 2022
The cabinet approved a state of emergency in Emilia-Romagna, Friuli-Venezia Giulia, Lombardy, Piedmont and Veneto until December 31, the government said in a statement on Monday.
Italy is facing an unusually early heatwave and a lack of rainfall, particularly in the northern agricultural Po valley, which has been hit by its worst drought in decades.
The state of emergency provides “extraordinary means and powers” to help guarantee public safety, compensation for losses while seeking to guarantee normal living conditions for those in the area.
21 June 2022 – Will new ECB anti spread tool save Italy and the Eurozone?
The sickest biggest economy in eurozone needs European Commission EC to pressurise European Central Bank ECB into fake monetary policy to save Italian banks, Italian economy and Eurozone.
The value of Italian banks has plummeted in 2022. The good old days of printing fake money into the global economy during pandemic monetary risk management measures have caused global runaway inflation. The quid pro quo is quantitative tightening QT. Italian banks, Italian economy and the Euro would not survive equitable standardised new monetary policy across the Eurozone. The result – the EC and ECB have to cobble together a new monetary tool to save the day. The problem Italy’s sovereign debt and how to finance Italy in future. The ECB has promised a new anti-spread tool to solve the problem of keeping Italy and the Eurozone project together. It won’t be credible, but will it be sold to the public lime the emperors clothes was sold to the public?
Not all of Italy’s banks are weak, systemically the Italian banking system can bring down the whole pack of cards that could bring the Eurozone and the global economy with it. The new unfair fake money anti spread tool needs to work for the world economy so it is perhaps in everybody’s interest to see the emperors clothes that aren’t there. Will the German and northern European people buy the con of the new mysterious anti spread tool?
Things may not be as bad as the global financial markets have priced in. However the money markets will not fall for just any old emperors clothes story so the ECB better come up with a good one. The ECB is likely, one way or another, to throw cheap money in billions at Italy so in short term we should all live to fight another day. However, Italy and Italian banks will be forced into something by ECB and EC that will be painful. You don’t get anything for free in the real world even if a lot of our world is fake.
6 May 2022 – Italy limping on before collapsing economically socially and culturally in next few years.
Italy has been dripping in debt. The debt lake will eventually drown it. This is perhaps why Italy will be the European testbed for World Economic Forum inspired social credit system adopted in much of China. If you are a good boy or girl you will be allowed to do stuff. If you are bad your digital passport will prevent you from going anywhere and you will not be allowed to access world digital currency to buy anything.
During the Covid-19 pandemic during the pandemic, European governments guaranteed business loans to keep businesses going. Now businesses, in face of runaway inflation, cannot afford to repay their business loans. The European Central Bank ECB thinks it cannot afford to raise interest rates to control inflation as it fears more business failures that bring down Italian banks and the collapse of the Eurozone.
Italy underwrote 277 billion euros in COVID-related corporate debt, significantly more than other European countries
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3 million small and mid-sized businesses in Italy need to start paying back the capital in their business loans in June 2022. A significant amount of businesses will default on their debts due to inability to pay in climate of runaway inflation.
Italy wants to protect its banks from collapse and its government money available for public services and pensions. Italy wants to utilise state-owned bad loan specialist AMCO. Italy has been discussing a plan with European Union authorities that would see AMCO oversee the purchase of SME loans from lenders, four people told Reuters. AMCO would instead manage the loans. The European Commission EC needs to ensure the scheme does not breach competition rules by allowing banks to offload the loans to AMCO on favourable terms, potentially above market prices.
Italy’s state-backed COVID-19 corporate loans total is almost double that of France and Spain, and nearly five times bigger than the 57 billion euros underwritten by Germany. Depending on the type of loan, government guarantees in most European countries cover between 80% and 90% of the debts, with banks set to shoulder the residual loss if businesses fail or can’t repay loan.
Italy, and probably other vulnerable countries in the Eurozone, want debt repayments stretched out over several decades so that the monthly repayment costs are much lower. Italy has businesses loaded with a quarter of a trillion euros in debt and to save Italy collapsing economically socially and culturally, Italy needs the businesses to pay debt back over 20 to 30 years.
Bologna has already adopt a social credit system that rewards people being good people. This is to test the technology, train people in Bologna to think a digital social credit is normal and set the precedent for the rest of Italy then Europe and the world to follow by 2030.
Once people become desperate after their businesses collapse due to unrepayable debt and rising business costs die to inflation, they will accept a social credit system that gives them money to live. When people are unemployed due to their employers going bust and public sector layoffs due to no money to pay for public services, they will reluctantly accept digital currency handouts.
The freebies from the digital social credit system that will spread across Italy will then switch on bad credit penalties. If you are deemed to be a bad person for society you will get less money and be restricted in what you can do. If you do not do what the new society expects of Italians you will be isolated and unable to live the way you want until you do as you are told.
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Whilst Italy has many financial country risks it is still possible to do more business in Italy. Tune in to our Doing Business In Italy Guide Online English speaking only. Help your business and Italy to drag itself out of an economic slump with new opportunities to grow faster.
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