2023 is all in all positive for Lucca and Massa Carrara while Pisa is struggling

2023 is all in all positive for Lucca and Massa Carrara while Pisa is struggling
2023 is all in all positive for Lucca and Massa Carrara while Pisa is struggling

The economic situation of the companies of Lucca, Massa-Carrara and Pisa, although worsening compared to the forecasts made in recent months, remains positive overall, with growth in staff and turnover affecting all territories with the exception of Pisa. For 2024, companies in the three provinces expect a further deterioration in terms of turnover, due to global conflicts, the still restrictive monetary policy and the slowdown of partner economies, as well as the end of construction incentives.

However companies are not giving up and during 2024 they plan to adopt some priority actions to face the challenges that await them: improve economic-financial planning, invest in professional training, enhance digitalisation and promote sustainable practices to adapt to new market trends. These, in summary, are the results of the annual “ClimaImpresa” survey, conducted by the Chamber of Commerce of North-West Tuscany and the Institute for Studies and Research on a sample of 551 companies in the provinces of Lucca, Massa-Carrara and Pisa, some of which were released in preview on May 17 during the presentation of the annual report on the economy.

“Despite the context, businesses have shown resilience”

“Despite the challenging economic context – says the president of the Chamber of Commerce of North-West Tuscany, Valter Tamburini – businesses in North-West Tuscany have shown notable resilience. Our survey highlights that companies are focusing on digitalisation, circular economy and better cash flow management to face future challenges: the Chamber of Commerce is at their side in this journey. Through Digital Enterprise Points (PID), we offer training and economic support to improve the level of digitalisation of companies. On the subject of sustainability, with the SUSTAINability service we help companies identify development strategies linked to ESG objectives, providing self-assessment tools and operational ideas to improve environmental and social performance. Furthermore, through the Innova business school, created in collaboration with the Lucchese Technological Center and the professional associations, we are committed to promoting training for the competitiveness of businesses through an integrated program of meetings dedicated to business management, the protection of industrial property and the application of innovative technologies. We are convinced that, through our commitment and the support of the economic community, businesses in our area will be able to continue to grow and prosper, successfully facing the challenges of the market”.

In the Province of Lucca, 37% of companies have increased their turnover

For businesses province of Lucca, the economic picture for 2023 remains positive, although it has deteriorated compared to the forecasts made in recent months. The final data for 2023 say that 37% of companies recorded an increase in turnover, while 32% suffered decreases, generating a positive balance of 5%. Also employment grew by 4.4% compared to the previous yearrepresenting the best variation in all of North-West Tuscany.

For 2024, the turnover outlook remains moderately positive, despite the worsening recorded in the construction sector due to the end of bonuses and the reduction in the purchasing power of families which impacts above all on trade. The balance between increases and decreases in turnover stood at +4 percentage points. However, on the external side, Lucca companies are worried about the ECB’s still restrictive monetary policy, war conflicts and the slowdown of the German and Chinese economies, not even neglecting the negative effects of meteorological events. On the internal front, companies in the province of Lucca report how internal factors impacting the tax burden, the loss of purchasing power of families and excessive bureaucracy. To address these challenges, they intend to strengthen economic-financial planning to counter difficulties on the credit side, invest in employee training to ensure adequate staffing and focus on strengthening the now indispensable digitalisation and energy saving-circular economy processes.

41% increase in turnover in the province of Massa Carrara

The final economic framework for 2023 in province of Massa-Carrara remains extremely positive, exceeding the expectations formulated in recent months. In fact, 41% of businesses recorded increases in turnover, while only 19% experienced decreases, leading to a positive balance of 22 points: the best in the area. On the employment front, growth of 0.3% was recorded. However, the prospects for 2024 show a less optimistic climate, especially in the construction sectors, due to the end of bonuses, and trade, in difficulty due to the reduction in the purchasing power of families and new consumption habits. The balance between increases and decreases in turnover drops to -6 percentage points.

The main concerns of Massa-Carrara companies regarding global factors concern conflicts, restrictive monetary policy and the slowdown of the main world economies, as well as the (indirect) effects of the blockage of the Suez Canal on the port of Carrara. At a domestic level, the high tax burden, the decrease in the purchasing power of families and excessive bureaucracy are sources of concern. To face the challenges of 2024, Massa-Carrara companies are focusing on employee training and the optimization of economic-financial planninggiven the difficulty of accessing credit, on digitalisation, on energy saving and on the circular economy, as well as the creation of networks between companies to achieve common objectives.

Pisa and province: 35% of companies have decreased their turnover

In province of Pisa, the economic picture of companies in 2023 turned out to be negative: 32% of companies reported increases in turnover, while 35% suffered decreases, generating a negative balance of -3 percentage points. On the employment front, growth of 0.7% was recorded. For 2024, the confidence climate tends to remain negative, due to the worsening in construction and trade, with a balance between increases and decreases in turnover that drops to -16 percentage points. Among the global factors that most concern Pisan companies are conflicts, restrictive monetary policy, the slowdown of the main world economies and the blockage of the Suez Canal. As regards internal factors, Pisan companies are worried about the decrease in the purchasing power of families, the high tax pressure and excessive bureaucracy. To face the challenges of 2024, companies intend to invest in improving the planning of economic and financial aspects, since managing the flow of resources is crucial in a context in which credit remains expensive. The professional training of employees is also considered fundamental, considering the difficulty in finding qualified personnel and the strengthening of digitalisation processes and the circular economy represents a priority, given that these practices can significantly contribute to the efficiency and sustainability of company activities. (redgs)

 
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