There are advantages and also potential challenges for Northern Ireland companies doing business in Italy.
UK businesses are very important to Italy, and investors are committed to their UK projects. There is an appreciation for British professional services, technology and quality consumer goods.
Advantages of exporting to Italy
Italy offers numerous benefits to companies looking to do business in the region including
- dual market access allows businesses in Northern Ireland to trade goods freely with Italy as it is part of the European Union. Read more about how to take advantage of dual market access.
- similar regulatory framework to UK and modern intellectual property protection practices
- easy access from the UK with low cost flights
- only 1 hour ahead of UK time
- modern infrastructure
- high level of internationalisation and entrepreneurship, with fully integrated supply chains
- strong manufacturing and innovation capability in several areas
- hosts many trade exhibitions with global appeal
- one of the world’s highest rates of household wealth
- one of the world’s top 5 tourist destinations
Challenges of exporting to Italy
Doing business in Italy is very similar to doing business in the UK. Standard European business practices apply. Some challenges include
- complex bureaucracy and regulations
- slow judicial system
- unfair competition due to cases of bribery, corruption and tax evasion
