Small, medium and more competitive: Italian SMEs testing exports between sustainable and digital transition’
On the occasion of the 49th edition of the Cernobbio Forum, STEALING opens the doors of Villa d’Este to SMEs for the first time, thanks to the partnership with The European House – Ambrosettiwith a hub entirely dedicated to small and medium-sized enterprises and their strategic role for the Italian economic fabric.
During the Forum Alessandra Ricci, Chief Executive Officer of SACEtogether with Alexander Terzulli, Chief Economist of SACEe Lorenzo Tavazzi, Partner and Head of the Scenarios and Intelligence Area and of the international development of The European House – Ambrosetti, presented the research ‘Small, medium and more competitive: Italian SMEs testing exports between sustainable and digital transition’ created by the SACE Research Office in collaboration with The European House – Ambrosetti, with a focus on the development prospects of SMEs in the face of the challenges of international markets. The study represents an in-depth analysis that enhances small and medium-sized enterprises and fits perfectly into this year’s theme of the Forum: today’s and tomorrow’s scenario for competitive strategies.
“SACE participates in the Cernobbio Forum together with Italian SMEs, offering them the opportunity to virtually follow the three days of work, meetings and debates, and above all bringing to the attention of this authoritative context the importance and prospects for small and medium-sized enterprises Italian companies, grappling with the challenges and opportunities of the sustainable and digital transition“, he has declared Alessandra Ricci, Chief Executive Officer of SACE. “We at SACE, in line with our mission and objectives TOGETHER 2025 Business Planwe are already alongside 40,000 Italian SMEs in their investment and sustainable growth projects in Italy and around the world and we expect to reach 65,000 over the course of the Plan”.
RESEARCH EVIDENCE
The importance of SMEs in the Italian productive fabric and for Italian exports
SMEs represent the backbone of the Italian economy and play a very important role both economically and socially: over 200,000 small and medium-sized Italian enterprises produce a turnover of over 1,000 billion euros, generate almost 40% of the national added value and employ 5.4 million people, equal to a third of all employees. SMEs are strongly interconnected and develop forms of open innovation and collaboration with their ecosystem in order to access strategic resources (such as knowledge, technology, finance or skills) for their growth. A network that makes resilience and sustainability the key to its development.
At the center of global value chains and numerous industrial districts, a fundamental element in the diffusion and affirmation of Made in Italy in the world, with a role of “social connector” and key player in the transition processes towards a more sustainable, digital and interdependent, Italian SMEs have always made a significant contribution to the country’s economic, technological and social development. Despite some signs of attention that emerged during the first quarter of 2023, Italian SMEs can count on a financial structure that has strengthened in recent years and on relatively low debt levels, which allow them to mitigate, at least in part, their exposure to adverse effects linked to worsening credit conditions.
“The research ‘Small, medium and more competitive: Italian SMEs testing exports between sustainable and digital transition’ demonstrates SACE’s commitment to SMEs – and the entire production system – for greater knowledge and awareness of the necessary tools to businesses for sustainable and innovative growth”he has declared Alexander Terzulli. “The aim of the study is to underline, in consideration of their importance, the characteristics that distinguish the over 200,000 Italian SMEs, in order to enhance their qualities and help them seize development opportunities on the national and international scene, also in the light of the dual challenge of sustainable and digital transition”.
The dynamism of the productive fabric of SMEs, witnessed by the strong increase in labor productivity recorded in the decade 2010-2019 and which reached levels higher than that of Germany and Spain, was also reflected in an improvement in competitiveness on international markets. Italian SMEs in 2021 (latest data available) exported 219 billion euros, equal to about half of total exports, with an average annual growth of 2.7% between 2017 and 2021, marking a full recovery post- pandemic.
Figure 1 Italian exports in absolute value (billions of euros and annual % change), 2019 – 2026
Currently, Italian SMEs generate around a third of their turnover abroad (8 percentage points above the German ones) and contribute to 48% of national exports, compared to 20% of the German and French companies and 34% of the Spanish ones. A trend that is also strengthening in perspective: according to the forecasts elaborated by the SACE Research Office, le exports of Italian SMEs are expected to grow by 6.2% this year, by 4% in 2024 and by an average of 3.2% in the following two years (2025-2026), when they will exceed 300 billion euros.
With reference to the target markets, the East will lead the export growth of Italian SMEs this year: the Middle East, East and Central Asia are the areas for which the greatest increases are expected (respectively +10.1% , +9.2%, +8.4%), against lower rates for Europe (+5.5%) and North America (+6.6%) which in any case remain the main outlet geographies. In 2024, greater dynamism will be seen in Sub-Saharan Africa (+5.6%), Central-South America (+5.4%) and North America (+5.1%).
Figure 2 Forecasts of exports of Italian SMEs by geographical area (current values, billions of euros for the year 2022; annual % change 2023 and 2024)
The double sustainable and digital transition as boost for growth
Sustainable transition and digital revolution these are the two phenomena that are characterizing business activity in an increasingly clear and marked way. In 2022, more than 60% of medium-sized manufacturing companies (and almost 40% of small ones) have in fact undertaken “sustainability actions”, showing growing attention to these issues. The so-called “Twin Transition” increases the export propensity of SMEs: the number of companies investing in green and digital and exporting is 20 percentage points higher than that of companies that export without making any transition. Embrace the Dual Transition green and digital leads SMEs to be more resilient, forward-looking and aware, but above all more productive and competitive not only nationally but also internationally.
Figure 3 Italian SMEs that will export in the two-year period 2023-2024, by type of investment
To encourage this process, SMEs need to be supported in all the aspects they find to be most critical, such as cultural barriers in the case of the digital revolution or economic ones in the context of the transition green. At the same time, emphasis must be placed on training to this and on support in terms of understanding and adherence to regulations and administrative management also with a view to accessing foreign markets, especially those further away and less manned. It should be emphasized that, in a logic of greater efficiency and taking advantage of the supply chain approach, focusing on support for medium and large enterprises would also bring benefits to smaller ones, generating their operational strengthening and overall enhancing their competitiveness on the market. domestic and foreign markets.
2023-09-03 10:58:42
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