Forget the corruption, crazy laws, favouritism and racketeering. The biggest problem you'll face doing business in Italy is the wide-spread, deep-rooted "it can wait" mentality that is really prevalent. No one can be bothered with anything. Be prepared to wait for months and months for trivial tasks that can be completed in 30 minutes. Be prepared for people to cancel meetings at the last minute, then set a new date and time just to miss that one too - repeat ad nauseam. Don't even try to explain the concept of a "deadline" to an Italian.

The worst part is you can't even hate them for this, because they're so friendly and likeable!

Other than that, it's a lovely country. Make your wealth elsewhere and go enjoy what Italy has to offer.