Internationalization, an opportunity for the recovery of SMEs, after the economic and social crisis generated by the Covid-19 emergency

Italian businesses are clearly in a moment of difficulties due to the pandemic from Covid 19 in act, however, it is necessary that they begin to think not only to survive but also to restart effectively, not to be caught unprepared. One of the strategies undervalued by many Italian companies, for various reasons, consists in the possibility of selling abroad.

Internationalization is a challenge for Italian companies, especially for SMEs: the possibility of opening up to new markets, looking for opportunities for survival or business growth is almost an obligatory choice in this historical period, strongly characterized by a pandemic that threatened to bring to its knees the global economy.

The opportunities that internationalization offers are multiple: in a market like the current one, globalized and increasingly digitalised, the obstacles to foreign markets access seem to be much less insurmountable than in the past. New technologies have facilitated access to the information in real time and have reduced the costs: all this translates into a greater possibility for small and medium-sized enterprises to enter the international markets, thus generating greater cash flows.

In many cases, opening up to new foreign markets is one need generated by poor national market growth: rather than facing the competition of stronger domestic enterprises, many SMEs prefer to look for new markets to explore, in emerging countries that offer greater opportunities for growth; even when national performance is good, businesses open towards foreign markets obtain better results in terms of competitiveness and growth in turnover.

In addition, the brands that manage to emerge in the international field gain even greater strength in domestic markets, thanks to greater visibility on the international level and to the process of customer fidelization.

New markets are springboards for all businesses, even for those with already stable realities, because they allow to diversify the risks associated with dependence on a single market.

In this sense, it is important to have a knowledge of the dynamics of the country which is addressed by the company; for businesses facing internationalization, it is essential to refer to all the economic and social indicators in order to prepare a strategic plan suitable for the foreign market of interest.

The process of internationalization therefore brings with it not a few risk factors that make it essential to have a strategic business planning, with the use of professional figures, such as that of registered statutory auditors specialized in the internationalization sector, as SMEs do not always have access to specialists within the company structure.