It's one of the neologisms in the new business vocabulary, but let's try to understand more: what really is nearshoring? Nearshoring is the phenomenon whereby an organization decides to transfer work to less expensive and geographically close companies. The use of this model allows companies to move their operations to a place that therefore has the two requirements of novelty and convenience. This close proximity allows for fewer time zone differences, cultural discrepancies and a greater level of control in decision-making processes. Something quite different from offshoring, which refers to partnering with a company that is located in a country far enough away to operate in a completely different economic environment and time zone.
In recent years, and Confindustria data certifies this, Italian industry has resorted to an increasingly massive use of nearshoring. The best-known example is that of companies such as Fiat that have created new production centers in Poland. But it is just one of many examples on the subject. Even Bulgaria is proving to be one of the privileged destinations for companies that resort to nearshoring, with a certain predominance of those operating in the fields of metallurgy, instrumental mechanics, electrical appliances and textiles. The objective, for companies that resort to nearshoring, is to reduce costs by producing in nations not too far from Italy where the cost of labor is low (in Bulgaria it is one fifth of that in Italy) and where however competent manpower can be found.
This, but there is also another that we will analyze shortly, is one of the most important reasons for nearshoring, and which distinguishes this approach from that of those who, for example, choose to go and produce in China. It is clear, in fact, that in Asia it will be possible to find even lower labor costs than in Italy, but the quality of the products (regardless of the raw materials used) remains poor and in any case incomparable compared to that "Made in Europe". And then, as anticipated, there is a further point to consider if you choose to produce in Bulgaria, which is the fact of being in the EU area. It is a fundamental element because it allows entrepreneurs to export their products throughout the continent with very few controls and above all without paying customs duties; this together with the low taxation on individuals and legal entities, with a flat tax of 10% without income limits, is the reason why we advise our clients to set up a company in Bulgaria to create new business opportunities or to "save" your business asphyxiated by costs and taxes that are too high in Italy.
