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Business Business Profile Despite its reputation as a hotbed for socialism and even communism, Bologna is one of the richest cities in Italy. Its wealth is fuelled by myriad capitalist activities, from large-scale industrial projects in the suburbs, through to small businesses in the centre, with the city boasting the highest quota of small businesses per capita of any Italian city. Big names are also attracted to the city, although most headquarters will be located in Rome or Milan. Companies with a presence in the city include IBM, KPMG and Anderson Consulting. Youthful and progressive, Bologna also claims the highest percentage of graduates and the highest rate of female employment in Italy. Unemployment figures are low at 6.8%, compared to 10% on a national level (August 2002). Wealth flourishes in the city – the per capita income, 35% above the national average, is the highest in the country. Early examples of technological innovation include the first silk-spinning machine – invented in Bologna before the industrial revolution – and the work of Guglielmo Marconi, pioneering inventor of the radio, although the great man may be turning in his grave at the lowly share price of the company these days. Today, the city continues to be a leader in mechanical engineering, exporting machines for packaging and agriculture around the world. Other key exports include food, clothes and luxury cars. However, the economy, for the most part, is centred on the service industry, which employs the majority of the city’s working population. The business district is generally to the west of Via dell’ Independenza, the north–south artery that runs from the train station to the city centre. Bologna is one of the new corporate centres in the northeast, which are building their own mini-economies, mainly in the areas of IT and new technology. The fairground district, designed by Japanese architect Kenzo Tange in the 1960s, stylistically echoes the medieval centre of Bologna. As the fifth largest exhibition centre in Europe, it plays host to major international trade fairs and dictates the ebb and flow of the city’s economic life, with over 26 national and international expositions every year. Bologna hosts two fairs of worldwide importance – Arte Fiera, a market exhibition of contemporary art, in January, and the Children’s Book Fair, which involves some 1500 publishing houses, in April. There are a number of Internet cafes dotted around the city, including the centrally located Net Arena, Via de’ Giudei 3b (tel: (051) 220 850). Business Etiquette The Bolognese are among the most efficient and hospitable of Italy’s inhabitants and punctuality is respected. Normal business hours are 0900-1700. Business cards are commonly exchanged by way of introduction. Smart dress is appropriate, as is a high degree of formality – business visitors should always refer to Italian associates as Lei (the polite form of tu), unless informed to do otherwise. Although many executives speak French and some speak English, it is best for visitors to conduct business in Italian, if possible. Personal relationships are extremely important in business and Italians always appreciate a visitor who tries to speak their language, however poorly. Small talk is an essential part of any business meeting and leisurely lunches are a welcome element of Bolognese business. Although these tend to be pretty formal, business lunches can be peppered with alcohol. Dinners are less formal, although invitations to homes are not common. |
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