Italy may not be on the list of top freest economy in the world. Despite this, the country still remains as one of the countries that offer good job and business opportunities in various sectors including engineering, life sciences, communication, and cosmetics, and auto components.
The sophisticated consumer market of Italy has made it possible for most products and services to succeed. Moreover, majority of the companies that are doing business in the country are composed of small and medium enterprises (SMEs) and family-owned business. However, companies in Italy cannot be purchased easily. It typically takes several months before individuals can establish their business. This is due to various things that they should consider, the rules that they have to follow, and the permits that they have to accomplish. Incorporating companies in the country are also much expensive and takes longer than other countries in Europe.
For these reasons, it is important that individuals understand every aspect of the industry that they are planning to enter before establishing their business. It is advisable that they conduct a little research about the businesses that have greater chances of succeeding. There are numerous business opportunities that individuals can find in Italy. These include:
Cosmetics
Italy is known for producing quality cosmetics such as perfumes, hair care products, and moisturizers as well as personal hygiene products. However, the country imports majority of the raw materials that are being used in creating these products. Individuals can take advantage of this drawback by supplying these materials to Italian manufacturers.
Information & Communication Technology (ICT)
Due to the benefits brought by modern technology, more and more products are being digitized. Since Italy does not have enough specialist consultants in ICT, various companies grab these opportunities and offer ICT consultation services. Moreover, opportunities are also available in the telecommunication industry especially the ones involving mobile telephony, WiFi technology, and broadband technology.
Design Industry
There are several opportunities that individuals can take advantage of in the country’s furniture and industrial design industry. Italy is considered as one of the leading exporters of furniture in the world. Moreover, it is also among the world’s largest furniture manufacturers.
Aside from these opportunities, individuals can also try engaging in infrastructure, renewable energy, and life sciences. With proper planning, the right strategy, and enough resources, individuals and companies that want to establish a business in Italy are more likely to become successful in their business venture.
However, it is important that they are aware of the possible challenges that they may encounter while doing business. They should learn how to communicate and interact with different people including customers, investors, and business partners. It is also important that they know how to build a good working relationship with them.
There are various factors that companies should consider when planning to put up a business in Italy including enough capital and operating funds, good customer relation, and good organization. They should also understand that making a business successful requires hard work, determinations, and sometimes willingness to take risks.