What are some of most important considerations when closing an investment deal in Italy?

Tommaso Fonti gives his insight:

One of the most important cultural aspects foreign entrepreneurs should be aware of while doing business in Italy, is the need to build close relations. It is important to find a well-connected person who can properly introduce the foreign investor.

Initial meetings are often informal opportunities for evaluating colleagues and establishing relations, while not
making business decisions. The decision-making process might be slow, in which case using pressure is not welcome.
During business meetings, your Italian colleagues may speak simultaneously or interrupt one another, which is the normal Italian communication style.

Dress code is a priority amongst Italians, your attire will be perceived as a reflection of your social standing and relative success, as well as your competence as an entrepreneur. Business discussions might be conducted over a long lunch, which can last up to three hours.

Foreign investors should also be aware of the fact that not all Italian entrepreneurs know or are fluent in English. This might sometimes be a barrier to doing business or close investment deals with Italian entrepreneurs.

In this respect, it may therefore be worth involving an Italian business lawyer or consultant from the beginning of the negotiations, who may assist the foreign investor in approaching Italian entrepreneurs and, subsequently, in carrying out the negotiations with the same.

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