Internationalisation of the Italian Economy and the Role of Banking in Reshaping the SME Value Chains

Trade policy strategies should envisage the enhancement of productive specificities, partnerships to ensure access to markets to develop and above all coordinate with SMEs to enable them to deal with the complex process of trade negotiations. More generally, policies should be designed to meet SME needs given the gap between how SMEs consider obstacles to internationalisation and where such obstacles are perceived by policy makers. Practical and accessible support measures on the part of local and national intermediaries, SME experts, and the business links should also be provided. At the same time, effective pathways should be devised to assist SMEs in terms of intermediation, tax relief, punctual payments and measures contributing to the rapid distribution of funds, especially for the sectors of economic activity most exposed to the pressures of globalisation and the recession. In short, from the analyses carried out, a positive, consistent and defined government strategy has emerged in support of SME internationalisation processes, despite the complicated economic and pro-ductive environment, addressed mainly to the growth of new product sectors and to the support of innovative performance of traditional sectors competing on global markets. On the other hand, taking into account that SMEs are particularly active in Made in Italy production, and that they play a more consistent role in production where national traditions are most exalted, it is therefore the responsibility of public Institutions to consider the relationship between dimension-sup-porting operations and cultural incentives favouring the penetration of SMEs onto foreign markets.