The Italian entrepreneurial fabric is the focus of a detailed analysis thanks to the latest report on judicial liquidations by CRIBIS. This document provides an in-depth look at the current state of companies, with a particular focus on SMEs and start-ups. In a period of economic changes and global challenges, understanding the situation of companies becomes crucial to assess the resilience of the Italian entrepreneurial system.
The bankruptcy index: a look at the current bulletin
The CRIBIS report presents a detailed picture through the Bankruptcy Index, which is a key indicator of the financial health of Italian companies. This index provides a snapshot of insolvency risk levels and offers crucial insights into how companies are navigating through economic challenges.
In the period from January to September 2023, the total number of judicial liquidations in Italy was 5,468. This figure shows a slight growth of 1.48% compared to the same period in 2022. However, it is significantly lower by 32.9% when compared to the same period in 2019.
The regions with the highest number of court settlements were Lombardy (316), Lazio (154) and Veneto (157). In contrast, the regions least affected were Trentino-Alto Adige (13), Basilicata (8), Molise (7) and Valle D'Aosta (1).
Analysing the sectors, it emerges that trade is particularly affected, recording 1,738 judicial liquidations by 30 September 2023. This is followed by services (1,374), industry (941) and construction (923). These figures indicate significant challenges in key sectors of the Italian economy, underlining the negative impact of the current economic environment on companies operating in these sectors.
Payment delays slow growth
Again according to CRIBIS, particularly in the Payments Study referring to the first nine months of the year, it emerged that up to the end of September 2023 payments with a delay of more than 30 days, indicative of serious delays, reached 9.4%. This figure confirms a steady and gradual deterioration in the punctuality of payments, which can be attributed to the macroeconomic environment and rising inflation, in addition to the reduction in business financing.
The analysis reveals that average payment times stand at 71 days. Micro, small and medium-sized enterprises show a lower average than the sample as a whole examined. In particular, it is worth noting that micro enterprises show a positive performance, with 42.8% of payments made on time and an average payment time of 66 days. However, these enterprises also register the highest level of serious delays, at 10.3%. These figures reflect the complexity of the economic landscape that businesses, especially smaller ones, are currently facing, highlighting the need for prudent financial management and resilient strategies in the face of a challenging environment.
The North East of the country is confirmed as the most reliable geographical area, maintaining a 47.9% regular payment rate, unchanged from Q3 2022 (47.8%). In the North West, the report shows an improvement in payment punctuality for Valle d'Aosta, from 35.8% in Q3 2022 to 40.2% in Q3 2023. Overall, companies in the South and Islands area continued to show the greatest problems, with an increase in serious delays of +14.8% compared to 14.6% in the same quarter of 2022. There was a slight improvement in on-time payments, standing at 28.6% compared to 28.1% a year earlier.
Analysing the regions, Lombardy, Emilia-Romagna and Veneto emerge as the regions with the highest percentage of regular payments, all above 47%. In contrast, Sicily and Calabria occupy the last positions in the regional ranking of punctual payment, with a percentage of 23.7% and 25% respectively. As regards average payment times, Trentino-Alto Adige records the lowest average, at 64 days, while Lazio and Calabria are the regions with the highest values, 82 and 81 days on average respectively. These data highlight regional differences in payment reliability and offer insights into the economic dynamics in different parts of the country.