Thriving Balance Sheets and Optimism Ahead: Businesses in Cuneo Bolster Investment Plans
The Resilient Bounceback of Cuneo's Businesses in 2024
With a dusting of resilience and foresight, the businesses hailing from the heart of Cuneo wrapped up 2024 on an optimistic note. This wasn't a fluke, according to the report presented by Confindustria Cuneo during their National Day of Made in Italy event on the 41st floor of the Piemonte Skyscraper. Let's dig into the numbers and trends that paint a picture of a formidable economic force.
Buoyant Balance Sheets: Profit Up, Investments Rising
Taking the pulse of roughly 300 local companies, Confindustria Cuneo's Study Center found that 70.8% bid farewell to the year in the black, with 53.4% bumping up their investment game. The turnover numbers are equally cheering – 35.6% of companies registered a growth spurt compared to the previous year.
The manufacturing sector, the backbone of Cuneo's economic muscle, came out swinging, with nearly three out of every four companies ending the fiscal year in profit, with a minimal percentage of break-evens and losses. Thankfully, the debt crisis seems to be subsiding for more businesses, as net debt either holds steady or shrinks.
Innovation Machine: The Entrepreneurial Pulse Throbbing with Progress
The manufacturing sector's investment figures are particularly eye-catching – 58.4% of companies pumped more cash into their operations, almost doubling the previous year's rate. This spending hike isn't just about financial stability; it's a clear indication of businesses gearing up to innovate, boost competitiveness, and navigate the challenges of a global economy fraught with uncertainties and structural shifts.
The services sector echoes similar sentiments – 43.2% of companies upped their investment game, while almost half reported revenue growth or stability. A whopping 64% of service sector companies ended the year in the black.
An Investment Horizon Beyond Borders
The meeting saw Cuneo's entrepreneurs joining forces with Alberto Cirio, President of the Region, and Andrea Tronzano, Assessor for Productive Activities, to discuss critical industrial policy dossiers and means to safeguard the productive system. A consensus emerged – a forward-thinking focus on internationalization, digitalization, and sustainability.
"Cuneo's businesses put up a terrific show in 2024, especially in the investments department," declared Mariano Costamagna, President of Confindustria Cuneo. "Just under 60% of manufacturing firms boosted their spending," a testament to an agile entrepreneurial ecosystem unafraid to storm new technological and market turfs.
Prosperity Ahead, but Guardrails Needed
While the economic snapshot paints a vibrant picture, some hurdles persist that require solid, user-friendly solutions. This was emphasized by Giuliana Cirio, General Director of Confindustria Cuneo: "Cuneo's success story isn't just about beating adversity; it's about equipping entrepreneurs with practical, non-punitive tools to navigate complexities and seize opportunities."
The future beckons, and with it, the potential for Cuneo's businesses to carve out an enduring, lasting impact. The key? Empowering local champions to thrive on the international stage, championing regional excellence, and supporting competitiveness in both home and foreign markets.
- The percentage of businesses in Cuneo ending 2024 with profits was 70.8%, with a significant 53.4% increasing their investments.
- The manufacturing sector in Cuneo showed a strong financial performance, with 58.4% of companies increasing their investments.
- In the services sector, almost half of the companies reported an increase in investments, while 64% ended the year with profits.
- In the discussion with Alberto Cirio and Andrea Tronzano, the need for a focus on internationalization, digitalization, and sustainability was highlighted, with Mariano Costamagna noting that nearly 60% of manufacturing firms in Cuneo increased their spending in 2024.
