In the past years, the economic crisis and the market globalization made the internationalization of the European companies mandatory. Many Italian companies chose to expand in foreign countries, like the American ones, with the aim of developing their business.
The state of Florida represents a milestone in the development of the Italian companies abroad.
In fact, the exchange relations towards Florida, and more specifically towards Miami, achieved a top level even in 2008 when the financial crisis began. In addition, between 2011 and 2012 the commercial exchange saw also a new increase reaching a turnover of 140 billion dollars and one among the highest commercial surplus in the United States. This output could only be achieved thanks to some benefits of the Miami area like, for instance, the bank system, the infrastructures, the financial services, not to mention, the strategic geographical location.
The most important commercial exchange between Italy and Florida is represented by food and wine, nautical products, luxury design and fashion. In the past three years, indeed, the import of Italian goods in Miami has increased more than 25%. Italian companies are operating in Miami not only as production centers but also as logistic and distribution centers thanks to an important characteristic of the Miami area: the existence of eleven foreign-trade zones. These zones, all of them strategically located nearby relevant coordination and commercial hubs, can offer important storing and delivering services to the companies.
The internationalization, though, is an expensive and risky investment, at least in the early stages. This is the reason why the Italian companies should be aware about the public funding and the financial instruments available to help the development and the growth of business in the extra-UE countries.
In particular, all the companies should participate to trade shows, which are organized in different country, in order to spread the awareness of their own brand among international buyers. Now, many funds are available to finance the participation of the company to these international events.
The Italian government, for instance, has established a 42 months’ public loan with a cut rate of 0,1% to cover all the companies trade fairs participation costs. The loan can cover up to the 100% of the expenses doesn’t need any bank guarantee.
Each application can finance trade shows in up to 3 countries but there is still the chance to make multiple applications at the same time, in the case of a company which has participated to trade shows in more than 3 extra European countries.
This instrument guaranties very advantageous conditions and it represents a precious resource which any company, interested in international markets, should take into consideration.
For further details, please download the following document: