Tips On Doing Business in Italy
Whenever someone is buying a new house, they check various factors. It doesn’t only have to look good. It must also fulfill all the requirements of those who will live in it. If it doesn’t have enough rooms or no living space, it won’t be suitable for a big family. People should think of all the relevant factors even when they are about to start their business. If someone doesn’t want to work in their homeland, that’s okay too. But starting a company in a foreign country is not easy, especially when you know nothing about the local culture and customs. So, anyone who wishes to succeed in a foreign country as a business owner must do their research first.
Business in Italy:
There is a list that ranks countries according to their business attractiveness. Many people think that the top 10 to 20 countries are the best options for startups. But in truth, such locations already have enough companies. The high competition means that many startups will fail. This proves that those in the top 20 may not be the ideal location for a new company. For higher chances of success, people should choose other options from the list.
Italy appears at the 43rd number on the list because of its bureaucratic issues, but it is still a great place for businesses. It is also a historically rich place, which is something that companies can capitalize on. The people of the country love their history, which is why the only way to win their hearts is to value their culture and language. But before you begin to interact with your target audience, you will have to get in touch with your local partners and employees. It is important that you know how to deal with them and how not to act during meetings.
Tips on Doing Business in Italy:
When people visit a foreign country, they instantly notice the local language and culture. But culture covers every aspect of life, which is why it is important in the corporate world too. No one can go far in life without appreciating the customs of others. If you make your hosts feel offended at any point during the meeting, they will not be willing to invest in your idea. You should do your research to understand the people you will be communicating with. Here are some tips that will help you with doing business in Italy:
- Religious Value:
More than 80% of Italians are Roman Catholics, which means that they celebrate Christian Holidays. Anyone running a company in Italy must keep this mind and give their employees off on important holidays. You should not be holding any meeting on such holidays either. It is important that you show your hosts that you value their beliefs. A criticism of religion will not be tolerated by the natives, so avoid doing that.
- Business Cards:
In Italy, business cards are very important. You can exchange them with others during a meeting. Your card should contain information like your contact information, education and professional title, and business details. If someone shares their card with you after crossing out their title, that means they expect you to refer to them informally because your relationship with them has progressed past the need of using the title.
- Expect Delays:
The business culture in Italy does not follow the rules of time. But you shouldn’t be late for meetings. You can come on time so whenever your partners arrive, you are ready for them. Sometimes, people take days or weeks to respond to a communication. Don’t take it personally and don’t consider it rude. It is just how things are done in Italy.
- Dress Code:
Milan, which was the capital of the Western Roman Empire once, is the home of fashion today, which is why Italians prefer to look stylish at all times. The business world is no exception, which means you will have to dress to impress. Accessories are allowed and expected. Men are supposed to wear expensive suits and watches. Women can wear elegant dresses and add accessories to make their look stylish. The way you dress will tell your hosts about the kind of person you are, so make wise decisions.
- Differences in Cultures:
All of Italy does not have a single culture. In fact, you should treat all the regions as separate countries. This way, you will be able to understand their cultures in a better way. And if you don’t paint all of them with the same brush, you will be able to develop good connections with them.
- Don’t Give Up:
First meetings in Italy are used for getting to know each other. So, don’t get disappointed if a decision is not reached by the end of it. You should prepare yourself for last-minute changes and questions. Every time you present an idea, bring enough material to hand out to the participants of the meeting. This way, they will be able to read the material at their own pace and understand your idea in a better way.
Understanding a foreign culture is not easy, which is why you should take all the help you can get. Don’t rush into things and start your company before learning about the native environment. Only when you are familiar with every native aspect and the different cultures can you start a business in Italy. You will not only establish strong connections with the people but also learn how to run a business in Italy successfully.
