Galab
The Guide to Strategic Success for SMEs
Small and medium-sized businesses (SMEs) are the real economic backbone of many Italian regions, including Tuscany, and are world leaders in a number of fields.
Small and Medium Enterprises (SMEs) represent the true economic fabric of several Italian regions, including Tuscany, and are global excellences in various sectors. With the aim of supporting these entrepreneurial realities in their growth and value creation, Duccio Magnani founded Galab, Global Advisory Lab, a strategic and management consulting company. In this interview, Duccio shares his motivation for focusing on SMEs, Galab's customized approach, and the challenges and opportunities SMEs face in the current economic and technological landscape.
A Focus on the SME Sector
Duccio Magnani explains that the decision to found Galab was motivated by the recognition of the crucial role of SMEs in the Tuscan and global economic landscape. "SMEs have always been global excellences in many sectors: fashion, precision mechanics, furniture, design, etc.", says Duccio. This awareness led him to provide strategic and management support, aimed at growing these entrepreneurial realities and enhancing their potential.
The Feasibility of Projects and the Challenges of SMEs
One of Galab's main tasks is to assess the feasibility of SME projects and identify the key indicators for analysis. "Financial sustainability, development potential compared to competitors, and time to market" are some of the factors considered, he explains. Moreover, Duccio emphasizes that digitalization, internationalization, and environmental and economic sustainability are the common challenges SMEs must face to thrive in the coming years.
Galab's Customized Approach
To address these specific challenges faced by SMEs, Galab adopts a customized approach tailored to each client. "We approach each project in a customized way, never standardized: each SME is like an individual, a small and unique world different from others, but with similar needs", says Duccio. This attention to detail and the customization of the intervention is what sets Galab apart from other strategic consulting companies for SMEs.
Opportunities and Threats in the Current Context
With the advancement of technology and new market trends, both opportunities and threats arise for SMEs. Magnani highlights the need for SMEs to transition to digitalization and Industry 4.0. However, the greatest challenge often lies in financial planning and generational transitions. In many cases, the handover to successors is complicated due to the "patriarchal" mindset of the senior owner.
Galab offers valuable advice to SME entrepreneurs who want to improve their market position and create more value. It suggests exploring new markets, adopting new communication and sales strategies, and collaborating with other entrepreneurs to create stronger and more competitive networks in foreign markets.
Innovation as a Growth Engine
Galab encourages innovation within the SMEs it works with, and in particular, follows and obtains European funds from the PNRR's Subsidized Finance Calls, which are aimed at these themes. This approach allows SMEs to benefit from the opportunities offered by research and innovation, thereby contributing to their growth and sustainable development. Thanks to its customized approach and attention to the specific challenges of each business, Galab is committed to providing high-level solutions, comparable to those of large consulting firms, at a sustainable cost for SMEs. Through Galab's strategic support, SMEs can face market challenges and seize the opportunities of innovation, growing and creating value in the current economic landscape.
