doubts about the Pnrr and trust for 2023 – Corriere.it

Lukewarm on the Def, confused on the Pnrr, but confident for the 2023 trend. This is the mood of SMEs on the recent government maneuvers and on the prospects for the current year, according to research carried out by the Institute of Applied Economic Research ( I-AER), in collaboration with Aida Partners Pr, which examined a sample of 531 small and medium-sized Italian enterprises, with turnovers between 1.5 million and 90 million euros. Indeed, the study shows that 7 out of 10 entrepreneurs consider the cut in labor costs proposed by the Def unsatisfactory, with companies that, even today, bear two-thirds of the costs deriving from the tax wedge. An issue that, according to the interviewees, is holding back competitiveness, hiring and development: among the main concerns of companies there is precisely the contraction in domestic consumption, despite the fact that the Def has revised upwards the GDP estimates for 2023 (+1 %). Companies expected much more courage from a government that positions itself close to them – comments Professor Fabio Papa, founder of I-AER -. The cut in the tax wedge took place, but not as companies expected, which in recent years have supported workers with increases in net wages and expected a more incisive structural intervention.

Uncertainty about the Pnrr

If the SMEs are doubtful about the Def, perplexity increases as regards the Pnrr. On this front, companies appear disoriented, with 9 out of 10 business owners stating that they have not yet received any relevant real benefit from the Plan: a datum certainly influenced by the fact that over 85% of obligations are still pending. Also on the Pnrr issue, companies expected more attention from the institutions, above all greater clarity in the measures and on how to access the funds, considering that 2020 was a very difficult year for them and that 2021 and 2022 went well despite different criticality – Pope explains -. Also in this case, the impression of companies that have to fend for themselves, but are now having a harder time due to inflation and the increase in interest rates which cause high financing costs. And not only have the banks become more expensive, but they have also tightened their shirts because they are afraid of forfeiting credits that are difficult to recover.

Confidence for 2023

Despite the scenario of uncertainty, and the dissatisfaction with the Def and the Pnrr, companies do not question the stability of the system and remain optimistic about 2023. Companies are realizing that volatility is becoming the new normal, and they are gearing up to face other crises in the future – says Pope -. But SMEs are confident because, while turnover did not grow in January and February, between March and April the market began to regain momentum. This trend has given new life to entrepreneurs, especially those more focused on international markets. In fact, according to the I-AER study, companies have renewed their propensity to invest, so much so that 64 out of 100 intend to revise the budgeted spending targets upwards. Even in this moment that seems to be positive, companies need the support of the institutions, which according to them have focused little on SMEs, the backbone of the Italian economic system, Pope concludes.