Those In the Know

Finding finance in Italy can be notoriously difficult, unless you happen to have rich relatives. The banks here are cautious to say the least, and rather reluctant to invest in anything too new. A recent article in the Financial Times referred to Italy’s banking system as being ‘relatively unsophisticated’, and this comment says it all.

However, despite the reluctance of Italian banks to support new Italian business ventures, Italian entrepreneurs who know English well enough, and are able to produce a convincing business plan, can look elsewhere. London for example. Businessisin is aware of one at least one major Italian start-up, and now, successful on-line business that sought and obtained finance from far-sighted investors in the United Kingdom. The company concerned was MutuiOnline, and from small beginnings, the site has grown to become one of Italy’s foremost on-line residential mortgage services.

Despite being affected by worldwide caution stemming from the American sub-prime crisis, MutuiOnline is a shining example of what Italian entrepreneurs can achieve.

If you are an Italian businessman with a concrete idea, which is backed up by a comprehensive business plan, and you can understand this article, then you stand a fighting chance of getting your idea off the ground.

Even if you are not Italian, but would like to set up a business venture, or wish to expand into Italy, then bypass Italian banks and head straight for the real movers and shakers. London would be a good place to start, even if sub-prime induced worries may mean that investors may be reluctant to invest in all but the most innovative and potentially lucrative business ideas.

For those who find that their idea does not catch the eye of venture capitalists or angel investors based in London, there is always New York.

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