The process of making a company global (international) must starts from a conscious introspective analysis, having in mind company know-how and thinking about its revival from a global perspective
For the publication In Focus Italy, we spoke with Michele Rossini, chartered Accountant and statutory auditor in Italy, Co-founder of CRS International doo in Belgrade and Novi Sad, currently Board member of the Italian–Serbian Chamber of Commerce, speaker at numerous conferences and author of articles in the specialized journals.
Is Serbia ready to welcome the Italian entrepreneurs that the pandemic has convinced to definitely globalize?
Going globally with imprudent investments abroad as a result of an entrepreneur’s presumption rather than courage has never been my way of thinking. Therefore, if you ask me whether the target country – both for the purpose of entering the market and for the sake of a pure supply of production factors – may or not be considered mature to accept an Italian company, my answer would be that many times the company itself is not ready to deal with international competitors abroad.
Poorly structured from the point of view of financial and human resources, the typical SMEs in our Country, today suffer from the fact that they run their business (or it should be said trudge wearily…) in a not very dynamic market, territorially limited and so limited in terms of lively competitors and careless of its intangible assets (know-how and intellectual properties).
Do you have some recommendations?
Therefore, the essential (crucial) recommendation is not thinking in terms of final balance but facing the future by strategic planning of business and using Business Plans and Budgets too. Do not rely entirely on incentives of Italian or Serbian origin but thinking in terms of self-sufficiency with reliable business risk management and general entrepreneurial ethics that also covers the sustainability of its investments in social and environmental terms.
And what can Serbia offer on this global market?
On the other hand, Serbia, besides having a good legal system and incentives to attract investments, has many other advantages. One of the least considered is that it is an international arena of multinationals that have chosen Serbia as an option for their corporate future. Every year there are more and more companies, so an Italian company can evaluate and measure itself in comparison with other global competitors. This fact leaves no space for improvisation but requires the company, with а professional team, to insist on careful investment planning, both in the start-up phase, avoiding self-damaging undercapitalization (business and tax plan), as well as in the business consolidation phase.
“The essential (crucial) recommendation is not thinking in terms of final balance but facing the future by strategic planning of business”
I would like to remind you that the investment is not only Italian or only Serbian, it is in fact a joint investment during which Italian SMEs become multinational and as such require a constant holistic approach of functional components, tangible and intangible assets, as well as risk analysis shared among the various entities in order to manage better what is so-called Transfer Pricing Policy.
To conclude, what does it mean for you to be a part of the Italian community in Serbia?
I must dearly mention the presence of the Italian community in Serbia. It is a great honor and privilege to be a part of it. This network exists successfully, and it also acts as a safety net, with several initiatives, not only educational but of great added value in the form of the class action which can also be defined as entrepreneurial solidarity.