Traveling through Southern Europe - Italy, Greece, and Spain - reveals a striking contrast to the digital-first economy of Northern Europe. While the North has almost entirely transitioned to cashless transactions, the South maintains a strong, sometimes aggressive, preference for cash. In Italy, for instance, cash is used in over 57% of transactions. As a financial professional, this raises critical questions about the shadow economy and the vast amount of tax revenue that

In Estonia, we have grown so accustomed to seamless, digital-first business processes that we often lose perspective on how complex entrepreneurship can be in other European jurisdictions. To illustrate the stark contrast, I’ve analyzed several real-world testimonials from professionals in Italy facing the daunting task of traditional incorporation.