Tips for doing business in italy (#1)

TIP #1: PARTNER SELECTION

According to the estimations of the International Monetary Fund for year 2017, Italy achieved the 12th position out of 191 Countries, basing on the analysis of Gross Domestic Product (GDP) based on purchasing-power-parity (PPP).
This ranking is led by China, European Union gains the 2nd position whereas United States achieved the 3rd place.  

Even though all of its problems, Italian economy is still one of the most important of the world, especially for manufacturing.
We started this new section in our blog in order to give foreign companies useful advices for making their business in Italy even more successful . 

Italian companies are often very small (95% with less than 15 employees) compared to international standards, but they have a high degree of internationalization and a long tradition of presence in foreign markets.
Italian companies also distinguish themselves for their ability to manufacture high-quality products and machines that can be customized according to the customers' needs. 

When choosing a new business partner, these factors are certainly of the utmost importance:

1. English knowledge.
2. Company reputation, especially for what concerns after sales service.
3. Quality of products, easy access to parts, ability to provide quick and detailed answers.
4. Availability of technical info such as: exploded-view drawings, user and maintenance manuals.
5. Possibility to have a factory tour and visit some of their key-suppliers.
6. Logistics coordination.​

Says Christopher Rankin from Rankin Equipment (www.rankinequipment.com), one of the major West Coast ​farm equipment distributors:
"Our organization has been importing products from Italy since the late 1970s and from my experience the most successful Italian companies in North America have multiple chains of distribution, as well as parts and inventory available in the United States. 
When I am looking to take a new product line or Italian manufacturing company on, I first investigate the other distributors who are selling the products in North America. Easy access to parts and service is especially key when selling agriculture machinery in the United States or outside of Europe".