In Italy, from 2011 until today, 165,000 youth businesses have been lost, with the overall youth entrepreneurship rate declining by 2.9%. A very huge loss, costing Italy $42 billion in lost GDP. These are the data that emerge from the analysis of Italy’s Confcommercio business study office “The Importance of Youth Entrepreneurship for Economic Well-Being”.
If the youth employment rate had remained constant over time, we would today have a GDP greater than 2%. The research, carried out on the occasion of the election of the Board of Directors of the Young Entrepreneurs Group of Confcommercio Milan, Lodi, Monza and Brianza, adds that Milan itself has reversed the downward trajectory. According to Chamber of Commerce data, youth projects have begun to grow again since 2021, something that has not happened since 2014.
In 2022, there were 30,630 youth companies in Milan, Lodi, Monza and Brianza, and 25,195 in Milan alone. The strongest (and growing) sector for young people is the services sector: in Milan alone there are 8,748. The city also confirms that it is the Italian capital of innovative startups: 1 in 5 is based in Milan, and between January 2022 and January 2023, innovative startups in the region grew by 5.5%.
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