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Businesses: those led by young people collapse, foreigners boom

According to the numbers presented during the Unioncamere Assembly, in Italy between 2011 and 2018 the number of young entrepreneurs decreased by 17,4%, while that of foreigners increased by 32,6%

Businesses: those led by young people collapse, foreigners boom

Between 2011 and 2018, Italian companies led by young people they decreased by 17,4%, going from 697 to 580 thousand (out of a total of 6,1 million companies nationwide). These are mostly micro-enterprises, which have an average size of less than two employees (1,9) and employ a total of just over one million people (out of the almost 22 million employed overall by Italian companies). Most of the enterprises led by young people are concentrated in the commerce sector (30,3%), followed at a considerable distance by construction (13,8%), by the accommodation-catering sector (11,9%) and by agriculture ( 11,1%).

In the same period (2011-2018), companies led by foreigners they increased by a third (+32,6%), from 454 to 602 thousand, with a positive balance of 150 thousand businesses. Over the course of seven years, therefore, foreign entrepreneurs have caught up with and surpassed young people in Italy. Of course, the two categories are not immediately comparable, since that of young people also includes many foreigners, but the flows nonetheless indicate a precise trend.

These numbers – compiled by Unioncamere based on data from the Business Register – were presented on Thursday in Rome during theassembly of the presidents of the Italian chambers of commerce.

“Ours is a country that is growing less than others – he said Carlo Sangalli, president of Unioncamere, opening the assembly of the association – In the last 20 years, Italy has grown on average by half a point a year, compared to 1,4% in the euro area. Then I think of the work that is struggling: it is above all young people who are paying the price, who are increasingly forced to seek hope for a future outside their homeland, with a negative balance of 340 young people who emigrated from the South to the North in 10 years".

For Sangalli, some of the latest measures passed by Parliament are positive, "from the restoration of super-depreciation to the new process of reducing IRES on reinvested profits", passing through "the continuation of the process of raising the IMU deductibility on corporate properties . The broader missions entrusted to the new Sabatini and to the Central Guarantee Fund are also doing well”.

However, the problem “of the efficiency of the country's system still needs to be addressed. So I think of the excessive tax burden and bureaucracy and deficits, infrastructure and legality. In addition there is the issue of public investments: I am thinking of fast connections in the South, the high-speed train and the ultra-broadband digital connection”, concluded Sangalli.

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