The Italian entrepreneurial fabric has always been, due to its history and culture, oriented towards the global market. What are the opportunities for a small and medium-sized enterprise (SME) to compete successfully in foreign markets? In the interview, Attorney Antonio Landolfi from the Law Firm Landolfi & Associates in Naples, with offices in Milan as well, addresses the topic of internationalization. He has extensive thirty years of experience in this field, particularly specializing in consulting and assistance for the protection of the interests of businesses, industrial groups, and financial institutions.
Challenges for SMEs.
Small and medium-sized enterprises (SMEs) that embark on the process of internationalization will generally face two fundamental points: having proper business organization and receiving adequate consulting. Often, Italian companies tend to treat international business as they would domestic business, unintentionally complicating the process of internationalization. Therefore, proper guidance from experienced professionals in the field of internationalization can facilitate the process and achieve significant results. The approach towards international business must be systematic, specific, and professional. This requires a specialized professional who is constantly updated and an organizational structure within the company that is suitable to take on the international challenge.
3 key points for undertaking an internationalization process
The fundamental points that a company must consider in order to enter a new market are three:
Analysis: where the company critically examines itself and identifies the current foreign markets as well as the strengths and weaknesses of the business.
• Strategy: selecting the best target markets in relation to the products or services offered by the company and identifying the entry strategies for these markets, such as contracts or international partnerships. For this reason, it requires excellent organizational structure and specific financial and tax planning.
Execution: implementing the plans developed in the previous two phases, including establishing business agreements with foreign partners, creating joint ventures or branches abroad, and receiving continuous support from multidisciplinary and specialized consulting.
Lo Studio Landolfi & Associati is a partner of Harpalis, the new Italian consulting network, and together with other specialized professionals, they support businesses in the internationalization process with a wide range of integrated services, providing comprehensive 360-degree consultancy, thanks to a well-established network of relationships with professionals and consultants in over 40 countries.