Vicenza: a prosperous economy in Italian Veneto region

 

This time we decided to go straight the way and give some impressive data about this great economy, which can be a great opportunity for India. In 2016 3rd quarter, Entrepreneurial Demographics: In the third quarter of 2016, the ceilings amounted to 3,331, of which 15.1% were capital companies (+ 0.4% year-on-year vs. 2.2% national), 13.4% of companies (-2.8% versus -2.4% Italian) and 70.4% individual enterprises (-1.8% in the referring area and – 3.4% in Italy): overall It checks a 1.7% drop to eight tenths less than the national figure.

Although boasting a strong industrial footprint, so to be considered the number one province manufacturing in Veneto, Vicenza’s economy diversifies itself in many areas, both in the productive field and in the commercial and service sectors. As an example, we can mention top-notch digital marketing services in Vicenza consulenza SEO which are on the cutting edge of know techniques.

There is a strong presence in industrial districts throughout Vicenza province: goldsmith, tanning, mechanical, textile-clothing, art ceramics and art furniture. Such districts retain strong performance capabilities and, even in negative cycles, maintain high foreign market share. Many Vicenza’s companies have consolidated high-tech productions in some niche markets of excellence.

Also, due to the strong presence of industrial districts, sub-supply relationships are widely developed and consequently also business-to-business relationships.

The presence of handcrafted goods is very high, with a percentage incidence of 29.4% on total enterprises in the third quarter of 2016, higher than the regional (26.7%) and national (22.2%).

There is a clear trend to export from some local companies, even in a crisis phase. In the first nine months of 2016, exports declined to just under 12 billion and 270 million euros, of which 99.1 % In the manufacturing sector, against 6.4 billion euros of imports: the trade balance is therefore positive for more than 5.8 billion euros. The province is confirmed in the top ten of the exporting industries, third with a 4.1% share of the total national behind Milan (9.3%) and Turin (5.2%);

Entrepreneurship from immigrants (indian and Bengalese are very important on this), which accounts for 8.7% of total provincial firms (7.9% five years ago), is experiencing a phase out of the so-called ethnic economy to fully integrate into the productive and commercial fabric local. The majority of foreign-owned companies now address their offer to Italian customers.

Regarding the evolution of the juridical nature of Vicenza’s businesses (between 3rd and 3rd quarter 2016), the share of individual companies changed from 51.1% to 48.8%, the share of capital companies increased from 25.9% to 29.0%, and other kinds account for 20.6% of the total (0.8% less than in 2011). So, there has been a shift from less structured legal forms to more complex governance models capable of addressing the major challenges of international and domestic competition more effectively, implementing more sophisticated organizational set-ups, creating business models that are more resource-efficient and reduce wastes with scale savings and new concrete ways of partnership

In a recent survey from the main national economy newspaper (Il sole 24 Ore) on the Business, Employment and Innovation chapter Vicenza is ranked 6th (1st in Veneto and +7 compared to previous edition): the first of the indicators used monitors the Entrepreneurial livelihood through the relationship between registered companies and residents. Vicenza with 9.6 registered businesses every 10 residents underperform the national average (10.01 businesses) and is ranked 66th. The propensity to invest is measured by the employment / deposit ratio. In Vicenza it is confirmed that the aptitude to allocate resources in the direction of modernization of plants, process and product innovation is high given the index of 1.3 in the employment / deposits ratio (which is 27 the province also confirms its export vocation: it is 3rd with a 71.25% (68.70% of the previous edition) of GDP exports against a national average of 26, 27% The labor market situation is monitored through the indicator of the employment rate and the youth unemployment rate of 15 to 24 years. As far as the first Vicenza is concerned, it is 32 ° with a value (65.5%) higher than 8 points to the national average; Start up innovative: Vicenza is only 47 ° with 0.89 startup innovations every 1,000 online businesses, however with the national average. Finally, the number of patents per 1,000 inhabitants is monitored by the degree of inventiveness: Vicenza with almost eighth quadruple National average value (2.21).