In the first quarter of 2015, the number of companies that filed for bankruptcy fell by 2,8% compared to the same period of 2014. If we exclude the figure recorded in the second quarter of 2012, this is the first positive change since the beginning of the crisis. Voluntary liquidations and foreclosures also fell. In the light of the first signs of a turnaround in the cycle, it is useful to look at the conditions in which the Italian production system finds itself, to highlight the structural difficulties and any measures implemented to overcome them.
The most evident feature of the Italian production system remains the small size of the enterprise and the very simple ownership structure; elements that affect the behavior and performance of companies, including the modest propensity for research and development and limited internationalisation. However, a more in-depth analysis shows that businesses have for some time implemented strategies to overcome the limits of small size, among these, in addition to the accentuation of the phenomenon of business groups, the activation of formal and informal inter-company relationships aimed at pursuing specific objectives.
In Italy there are around 90 business groups, involving 206 businesses and employing over 5,6 million people. The group represents a frequent type of relationship especially among large companies (90% of companies with over 500 employees are grouped together), even if the number of associated small companies is greater. The presence of joint-stock company groups is relevant above all in industry (25,4% against 22,3% in services).
The organization of firms into groups allows one of the main limitations of small firms to be overcome: low productivity. In fact, companies belonging to groups have on average an added value per employee that is more than double that of the others. Beyond the phenomenon of business groups, in Italy the bond that businesses create among themselves (and with public institutions) is also important through job order and subcontracting relationships, and different types of contracts, formal and informal.
According to Istat, almost two thirds of Italian companies with more than three employees maintain stable relationships with other companies or with public institutions looking for forms of flexibility and the possibility of exploiting external economies. The companies involved show on average a better performance than those that operate without any type of connection and in general, compared to those that operate in isolation, they prove to be more inclined to innovate and operate on international markets.
