Relief for micro-enterprises on the horizon
InfoCredit Business Activity Index
In the first quarter of this year, 147.4 thousand businesses were closed and suspended, and 120.6 thousand were opened and resumed.
The InfoCredit micro-entrepreneurship index calculated quarterly is worth -26.8 thousand points, more or less the same as a year ago.After a rather weak January and February, the situation improved slightly in March. The IC index calculated monthly came out positive. It is higher than a year ago.
What next? It depends on many factors. First of all, on the economic situation, but mainly on the costs of running a business.
No changes in business activities. The first quarter did not bring any breakthrough despite the announcements of certain reliefs for micro-entrepreneurs. This means that we still closed and suspended more businesses than we opened and resumed. The improvement in the situation in March is a good sign. Whether this was just a one-off slight rebound or maybe something more, we will find out in the coming months.
If we take into account the entire first quarter, there is no sign of any recovery so far. There are still significantly more businesses being closed and suspended than new and reopened businesses. The IC index after the first quarter of 2024 is worth about as much as after the first quarter of 2023, i.e. -26.8 thousand points compared to -27.7 thousand points a year ago. The situation improved slightly in March. The IC index calculated monthly grew each month (-22 thousand points in January 2024, -5.94 thousand in February and +1.1 points in March). It is currently higher than a year ago. However, this is not a significant jump that could indicate a change in mood among small entrepreneurs. After March 2023, it was worth -925 points.
The rising costs of operating from year to year certainly do not improve moods. The situation of small entrepreneurs and self-employed, especially those who settle on a scale, could be significantly improved by increasing the tax-free amount to PLN 60 thousand. PLN. However, this decision is moving away rather than getting closer. Currently, it is looming somewhere on the horizon. It is certain that this will not be the year. And will it be 2025? That remains to be seen. A certain relief may be the ZUS holiday. We already know that a micro-entrepreneur will be able to choose any month once a year in which they will not have to pay ZUS, Labor Fund and Solidarity Fund contributions. And this regardless of the form of settlement. Better safe than sorry… Can the ZUS holiday affect the growth of new and suspended businesses? We will find out in the coming quarters. One thing is certain. Those who carry out activities on behalf of their former employers will not be able to take advantage of the relief. Therefore, pushing them into self-employment will not affect the statistics for now.
Another thing that weighs heavily on entrepreneurs running a business is the non-deductible health insurance contribution. And certainly the absurdity of paying this contribution in the event of selling a car. The Polish order has made the income from the sale of a fixed asset part of the basis for calculating the contribution. This absurdity is to disappear. We keep our fingers crossed.
InfoCredit Business Activity Index
Our business activity index shows the ratio of new and resumed businesses to closed and suspended businesses. When the index is positive, it means that more businesses were established and re-established than were suspended and closed. The higher the index value, the greater the tendency to open small businesses. When the index indicates values below zero, it means a retreat from this form of business activity. The more the index is negative, the more small entrepreneurs withdraw from business (definitely or temporarily). We publish the index on a quarterly basis (after each quarter) and monthly basis.