Italy is one of the countries most affected by the consequences of the Covid-19 pandemic and the war in Ukraine. Let’s see ideas to help the economy.
The Italian economy has suffered a serious shock due to the blockade measures and the war, which have affected production, tourism, and consumption.
Under these circumstances, it is important to take steps to save the Italian economy. First of all, it is necessary to ensure that the measures to support the economy and the aid measures for workers are actually provided. Secondly, businesses must have access to financing at subsidized interest rates in order to ensure their survival.
Furthermore, it is important to support the employment and training of workers. Firms must be incentivized to reintegrate workers made redundant during the crisis and to train workers to increase their skills. Furthermore, it is essential to support small businesses , which have been hit hardest by the consequences of the pandemic.
It is also necessary to promote investment in research and development in order to support innovation and competitiveness . Furthermore, it is important to encourage the use of digital technologies, particularly in the production, distribution and service sectors, so as to increase efficiency and productivity .
Finally, it is essential to reform the Italian bureaucracy, in order to reduce administrative burdens and ensure that companies can have access to the finance they need for their growth.
In summary, saving the Italian economy requires a combination of economic support measures, employment support measures, incentives for innovation and research, and structural reforms. Only with this type of intervention can we think of tackling the crisis and relaunching the economy. Let’s try to list some of them.
Stimulate digital transformation
Digital transformation is changing the way people and businesses use technology to interact, work and shop. It is a process which is developing rapidly and which is leading to profound changes in the economy and society.
One of the major changes that digital transformation is bringing is the increase in the speed of processes . Technology is helping companies streamline manufacturing, service and marketing processes, enabling them to achieve greater efficiency. Furthermore, technology offers new ways to connect with customers, deliver services and products faster and more efficiently.
Another important aspect is the increase in connectivity . Technology is making sharing information, content and products easier and faster. This means that people and businesses have access to a wealth of real-time data and information that can be used to make more informed decisions.
Another element of the digital transformation is the financial services revolution. Technology is helping banks deliver faster, more reliable and secure financial services. This allows people to make payments, transfer money and access their bank accounts faster and more securely.
Finally, one of the most important trends of digital transformation is the increase in the number of people using mobile devices . Technology is enabling people to be more connected and productive no matter where they are. This means people can access their favorite content, buy products, share information and communicate with others in real time, no matter where they are.
Digital is a key factor for post-crisis growth and long-term competitiveness for Italian businesses, large and small. To do this, we need a strategy that accelerates digital transformation: we believe that taxing public and private investments to develop innovative projects is the best way to achieve this goal. Especially if these projects include startups in the logic of open innovation and collaboration with companies.
Financing start-ups
Italy is a land full of innovative start-ups that have had a significant impact on the country’s economy. These businesses, often founded by young entrepreneurs , have brought about innovation and positive change in many sectors, helping to strengthen the country’s economy.
Creating the conditions for the survival of startups is a necessary but not sufficient condition to foster innovation in Italy. It is necessary to promote private initiative , favor those forms of economic pollution which are a prelude to the process of osmosis of knowledge, skills and abilities between large companies and start-ups.
40 percent of the total turnover of Italian startups comes from startups financed by Corporate Venture Capital. The model is bearing fruit, but as often happens in Italy, it cannot get out of the small scale, i.e. not large enough to generate significant value. In the light of this photo, we believe that large Italian companies (and companies of all sizes in general) should be encouraged to create corporate venture capital funds, planning to reconcile public funds with the foundational logic.
In other words, compared to the establishment of a corporate venture capital fund, a public contribution of the same capital would double its investment capacity. The instrument is called Corporate Venture Capital and has already shown good potential in our country: almost 10,000 Corporate Venture Capital investors are represented in the capital of four Italian startups. Also, startups owned by these types of investors grow more and fail less than those owned only by mutual funds.
The allocation of tax-free public and private investments for the development of innovative projects is the best way to achieve this goal. Especially if these projects include startups in the logic of open innovation and collaboration with companies.
- Five strategic actions to relaunch the country’s economy (valori.it)
