3. The Competitiveness of Italian Small- and Medium-Sized Enterprises (SMEs)

The non-financial business sector includes the following industrial sectors: “mining and quarrying,” “manufacturing,” “electricity, gas, steam and air conditioning supply,” “water supply, sewerage, waste management and remediation activities,” “construction,” “wholesale and retail trade, repair of motor vehicles and motorcycles,” “transportation and storage,” “accommodation and food services,” “information and communication,” “real estate activities,” “professional, scientific and technical activities” and “administrative and support services.” The industries not covered by the analysis include: “agriculture, forestry and fishing,” “public administration and defense; compulsory social security,” “education,” “human health and social work activities,” “arts, entertainment and recreation,” “other service activities,” “activities of households as employers; undifferentiated goods- and services-producing activities of households for own use,” and “activities of extraterritorial organizations and bodies” (European Commission 2014: 122).

Basel III is a structured set of reform measures prepared by the Basel Committee on Banking Supervision to strengthen the regulation, supervision, and risk management of the banking sector.

The characteristics are the coexistence of family and business interests, the role of founders and successors, the striving for continuity, the priority of familial interests over business, and the necessity to preserve family assets.

This is typical of the current competitive environment.