Changes in PKD Better Reflect the Specifics of Business Activities
Changes in PKD Better Reflect the Specifics of Business Activities From January 1, 2025, a new Polish Classification of Activities (PKD 2025) will come into effect, replacing the currently used PKD 2007. The revised classification will include new types of activities that have emerged in the economy in recent years. It will ensure the harmonization of economic statistics within the European Union in areas such as the digital economy, circular economy, and bio-economy. Changes in PKD will better adapt the classification to contemporary economic realities. They will also facilitate harmonization with European standards (NACE Rev. 2.1). The main goals of the amendment are to improve the quality of economic statistics, more precisely define types of activities, and facilitate the classification of enterprises in official and statistical registers. PKD 2025 introduces more detailed grouping of activities, new classes and subclasses, as well as updated nomenclature. The new classification significantly better describes dynamic changes in the economy and will allow for more effective monitoring of new industries, such as renewable energy sources or intermediary services. The entry into force of the changes from January 1 does not mean that we have to switch immediately. Legislators have provided a transition period until the end of 2026. During this time, enterprises will be able to use both PKD 2007 and 2025 codes. Automatic reclassification of activities will occur in most cases, but in some situations, entrepreneurs will have to update their data in registers such as REGON, CEIDG, or KRS themselves to avoid incorrect classification. InfoCredit will soon provide its clients with solutions that will facilitate working with both the old and new classification. If you are interested in the details, please contact us at infocredit@infocredit. We will prepare detailed material on the changes with selected examples. What is changing? In short: Differences in the division into sections, groups, classes, and subclasses in PKD 2007 and PKD 2025: PKD2007 PKD2025 section 21 22 division 88 87 group 272 287 class 616 651 subclass 654 717 PKD 2007 contains a total of 1,630 PKD numbers (excluding sections). PKD 2025 contains a total of 1,742 PKD numbers (excluding sections). Comparing PKD 2025 with PKD 2007: 104 PKD numbers changed only the name 255 PKD numbers changed only the scope 224 PKD numbers changed both the name and scope 401 – new PKD numbers in PKD 2025 278 – PKD numbers removed in PKD 2025 compared to PKD 2007 A completely new PKD code will be created: In PKD 2025, a new code has appeared: Other specialized wholesale n.e.c. 46.89.Z. Class 46.89 PKD 2025 has no connection with PKD 2007, as it was not possible to link it with existing classes in division 46 PKD 2007. Additionally, sections will change: Apart from name changes, section J “Information and Communication” will be divided into two sections in PKD 2025: J “Publishing, broadcasting and content production and distribution activities” K “Telecommunications, computer programming, consulting, computing infrastructure, and other information services activities” This action caused a shift in numbering in the sections, but the scopes of divisions in individual sections remain unchanged. Previous news Need a quote or order? Write to us bok@infocredit.pl
Micro-entrepreneurs Under Pressure
Micro-entrepreneurs Under Pressure JDG InfoCredit Index In Q3 2024, 103.3 thousand businesses were suspended. This is 6718 more than in the same period of 2023, which was already record-low. In Q3 2024, Poles also started fewer businesses than last year and closed more. The InfoCredit Business Activity Index in quarterly terms after September has never been so low. In monthly terms as well. If Q4 of this year is as weak for businesses as last year, another record of weakness in the statistics of sole proprietorships will be broken. From January to September 2024, 221.4 thousand sole proprietorships (SMEs) were started in Poland, 149.4 thousand were resumed, 282.4 thousand were suspended and 141.9 thousand were closed. In total, there were as many as 53.5 thousand more suspended and closed businesses. A year ago, this advantage was smaller (there were 43.5 thousand more suspended and closed businesses). This is the effect of the weak third quarter and September of this year. We recorded 149.5 thousand established and closed businesses compared to 117.4 thousand new and renewed businesses. The InfoCredit index calculated quarterly fell to -32,067 points compared to -19,680 a year earlier. Our monthly indicator dropped to -7,566 points compared to -3,072 points a year earlier. The InfoCredit index has not been this low at this time since we started counting it. Costs, costs, costs… There is no indication that this trend will reverse in the fourth quarter. The advantage of suspended and closed JDGs has been growing practically from quarter to quarter for years. Similarly to the costs of running a business in Poland. The milestone was the announcement of the Polish deal. It started with a slump at the end of 2021, when we noted a significant increase in the number of businesses being closed and suspended, because entrepreneurs did not like the mess and ambiguity associated with the Polish Deal. And then the trend only accelerated, along with inflation and the increasing burdens on entrepreneurs. Seasonality will hit the statistics In January, we warned that in 2023, 372.5 thousand businesses were suspended (a record) and 198.2 thousand businesses were closed (the most since 2014). These records may be broken again. In Q4, we have been recording the most suspended and closed businesses for years. Last year, 102.5 thousand self-employed entities were suspended during this period (compared to 97.7 thousand in Q4 2022). In other words, about 100 thousand suspensions will be enough to break the record. Micro-entrepreneurs will continue to be under pressure in the coming months. The ZUS holiday (applications can be submitted from November 1) will not change much. This is a one-time relief, once a year. In addition, not everyone will be able to take advantage of it. Small businesses are waiting primarily for changes in the rules for calculating health insurance contributions. The retreat from the seaside continues In September, the largest number of suspended businesses was still recorded in coastal municipalities. Small businesses closed the fastest, per 1,000 residents, in Jastarnia, Krynica Morska, Rewal, Łeba and Władysławowo. Why per 1,000? Because not every municipality is the same. It is difficult to compare, for example, Jastarnia, which has approx. 2,600 permanent residents, with Władysławowo (over 10,000) or Zakopane (27.3 thousand). IC Index – ranking by municipality after September Gmina Woj. Indeks IC w pkt Indeks IC w pkt/1000 Jastarnia pomorskie -372 -106,8 Krynica Morska pomorskie -96 -82,4 Rewal zach. -291 -81,0 Łeba pomorskie -229 -75,7 Władysławowo pomorskie -1073 -75,0 Dziwnów zach. -267 -75,0 Mielno zach. -262 -56,6 Ustronie Morskie zach. -204 -54,5 Międzyzdroje zach. -199 -33,0 Hel (miejska) pomorskie -79 -28,4 Let us recall – after June Jastarnia was the clear leader in terms of new and renewed JDG (after May it was in the lead). The index for this commune exceeded +50 points at that time, which meant that one business per 20 residents was established or suspended! Now – one business per 10 residents was suspended or closed! This shows that the greatest seasonality in JDG is recorded in typical tourist towns, most in seaside resorts. The top ten communes with the highest drop in the IC Index are only those from Pomerania and West Pomerania. There are 2477 communes in Poland. We monitor all of them. Do you want to know what is happening in your province, district, commune? Contact us: infocredit@infocredit.pl or media@infocredit.pl. We invite you. How do we calculate the 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. In the case of individual communes, we calculate the index value per 1,000 residents. Previous news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
The most seasonal coastal municipalities
The most seasonal coastal municipalities JDG InfoCredit Index Rewal, Mielno, Władysławowo, Łeba, Krynica Morska – these are the five communes that fell into seasonal lethargy the fastest when it comes to economic activity. These are typical tourist, seasonal, seaside towns that come to life in May and June, only to fall into autumn and winter sleep in August and September. The InfoCredit economic activity index at the end of August for Rewal fell to -45.13 points. For Mielno to -28.73 points, Władysławowo to -22.45 points, Łeba to -16.87 points, and for Krynica Morska to -13.73 points. Our index describes the ratio of new and resumed activities to suspended and closed ones, per 1,000 residents. If it has a positive value, it means that there are more new and resumed activities. If it is negative, more are suspended and closed. What does it mean when the index drops to -50 points? That in a given commune 1 business per 20 inhabitants was closed or suspended. Interestingly, in our ranking after May, Krynica Morska was the leader (+40.07 points), Rewal was in 3rd place and Władysławowo in 5th. After June, the leaders were as follows – Jastarnia (+52.56 points), Rewal, Władysławowo, Mielno, Krynica Morska. The top ten included only coastal communes. And it can be said that it is in these communes that economic activities are the most seasonal. In total, in August, 22.46 thousand businesses were established in Poland, 13.55 thousand were resumed, 32.82 were suspended, and 12.26 thousand were closed. The IC index for the entire country after August was therefore -9,073. It is slightly higher than a year ago, when it was worth -11,233 points. What is happening in September? Until 18.09, nationwide, suspended and closed businesses still outweigh new and reopened ones. This is a seasonal phenomenon. We will be able to say more after the end of Q3, when full data will be available. We are all now anxiously looking at the provinces affected by the flood. For now, it is too early to talk about the impact of the disaster on economic activities in the Lower Silesian province. In the Kłodzko district, 21 applications for suspension have been submitted since 16 September, and in the Nysa district, 8. Residents and entrepreneurs are estimating losses and removing the effects of the flood. In fact, it is still difficult to handle matters there when offices have been flooded, and there are problems with energy and communication. We will present statistics from the regions affected by the disaster in October. There are 2,477 communes in Poland. We monitor all of them. Do you want to know what is happening in your province, district, commune? Contact us: infocredit@infocredit.pl or media@infocredit.pl . We invite you. How do we calculate the 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. In the case of individual communes, we calculate the index value per 1,000 residents. Previous news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
How to avoid mistakes in benchmarking
How to avoid mistakes in benchmarking The provisions on benchmarking as a mandatory element of local transfer pricing documentation have been in force since 2017. Despite this, you can still come across analyses containing significant substantive and at the same time basic errors. Today in the series “On benchmarking in transfer pricing”, we will discuss just that. While verifying comparative analyses recently, we came across benchmarks in which comparable entities were selected inconsistently with the subject of the analyzed transaction. Among the final sample of comparable entities were entities with a profile inconsistent with the activity conducted as part of the verified controlled transaction. Where do such discrepancies come from? Perhaps the preparer wrongly identified the subject of the transaction (production of raw materials for food production) with the core activity of the analyzed entity according to its PKD (production of food products). In another example, in the analysis concerning the production of finished products, among the entities considered comparable were those that obtained approx. 50% of sales revenue from commercial activity. Perhaps the person preparing the report did not verify the compliance of the actual activity of these entities with the PKD code under which they were registered. A separate category of benchmarks is analyses for financial transactions – not only due to their degree of complexity, but also due to difficulties in obtaining the appropriate data. Perhaps this is the reason for the still common practice of referring, for example, in analyses concerning loans to interest rate statistics published by the National Bank of Poland, as comparative data. Meanwhile, these are data with a very high degree of aggregation, which makes it impossible to precisely relate them to the conditions of specific transactions concerning financing between related entities. However, if we decide to use the NBP data, it is worth considering whether the effect of such a comparison is not a comparative analysis, but a compliance analysis – due to the use of data that does not meet the comparability criteria. Finally, the issue of updating the benchmark in connection with the expiry of the 3-year statutory “validity period”. This seems quite simple, provided that after 3 years from the preparation of the analysis, the person preparing the report does not decide, for example, to limit themselves solely to updating data from the reports of a group of entities considered comparable in the original analysis. This group may include entities that have changed their industry or profile in the meantime, entered the structures of capital groups, or ceased operations. Changes in the transaction itself (such as a significant increase in the volume of turnover) may also require modification of previously applied comparability criteria. Therefore, updating always requires re-searching for data based on verified criteria. Do you have any doubts as to whether your comparative analyses are being prepared correctly? Please contact us: infocredit@infocredit.pl . Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Microbusiness stagnation
Microbusiness stagnation InfoCredit Business Activity Index In the second quarter of this year, there are no changes in economic activities: there is no point in talking about a revival. The InfoCredit micro-entrepreneurship index calculated quarterly after Q2 2024 has slightly turned positive, but it is much lower than a year ago. After a rather promising May, June brought us back down to earth. In the last month of the second quarter, those closing and suspending economic activities once again had a big advantage. The index calculated monthly is in the red, lower than a year ago. The InfoCredit indices continue to maintain cyclical fluctuations, but they are sinking lower and lower from year to year. There are no changes in economic activities. We are still stuck in stagnation. In the second quarter of this year, 132.7 thousand economic activities were established and resumed (131.3 thousand were closed and suspended), which could be perceived positively. The InfoCredit index calculated quarterly therefore turned positive (+1440 points). The problem is that in the same period last year our index was worth +3889 points. And it is falling from year to year. The second quarter has historically been usually good for opening and resuming business activities. We were making up for losses after a seasonally weaker end and beginning of the year. Two years ago, the InfoCredit index was worth +16,784 points, three years ago +33,989 points, and four years ago as much as +47,601 points. However, 2020 was a special year. After the collapse and panicky suspension in March 2020 (the beginning of the pandemic and the shock associated with restrictions), small businesses, especially tourist businesses, resumed their operations en masse before the holidays. After promising March, April and May, when new and resuming businesses had an advantage over those being closed and suspended, one could have hoped that the trend would reverse. However, June was a big disappointment. The InfoCredit index calculated monthly in the last month of the first half of the year plunged to -5433 points. It is much lower than a year ago (it was also weak then, but the index was worth -3648 points). And we have a similar situation as in quarterly terms. Two years ago, after June 2022, the index was worth +3,575 points, after H1 2021 it was +9,003 points, and after June 2020 even 27,920 points. The graphs look very worrying. They maintain cyclical changes, but from year to year they sink lower and lower. Everything indicates that nothing will change this trend for now. Reliefs that were supposed to bring respite to small entrepreneurs (like holidays from ZUS) are still looming somewhere on the horizon). By the way, we also tracked what happened in June in typically tourist communes. It happened. More on that soon. How we calculate the InfoCredit business activity index Our business activity index shows the ratio of new and resumed business activities to closed and suspended ones. When the index is positive, it means that more businesses were established and suspended 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. Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Ukrainian microbusiness in Poland
Ukrainian microbusiness in Poland Over 24 thousand new active economic activities in 2023 and 14.6 thousand from January to May 2024. The most popular specialty is software-related activities. Favorite cities are Warsaw, Krakow and Wroclaw. This is what Ukrainian microbusiness looks like in Poland in the last dozen or so months – according to data from the analytical company InfoCredit. The number of businesses run by Ukrainian citizens in Poland has been growing steadily since 2022. The first significant wave was recorded right after war refugees started arriving in our country. It took only six months for our neighbors to register nearly 8,500 active businesses in Poland (at the end of 2021, there were 7,117). There are more and more of them every year. The type of business is also changing. There are fewer and fewer favorite voivodeships and cities – according to an analysis by InfoCredit. In 2023, Ukrainian citizens established 30,363 businesses in Poland, of which 24,031 were active at the end of December. From July to May 2024, another 15,983 microbusinesses were established, of which 14,641 were active. Ukrainian citizens conduct business mainly in the largest urban centers. And this is not changing. Their main targets are the Mazowieckie (7,751 businesses in 2023 and 4,306 in 2024), Dolnośląskie (4,303 and 2,122) and Małopolskie (4,022 and 2,113). Eastern Poland is not popular here. The Śląskie Voivodeship, where unemployment is relatively low compared to the country (lower only in Wielkopolska), has a fairly good ratio of housing prices to rental prices, and is only in 6th place. When it comes to favourite cities, there are no changes here either. The most popular are Warsaw, Krakow and Wroclaw. Interestingly, other major Polish cities are far behind the top three. Katowice did not make it into the top seven. Interestingly, in 2023 and 2024 there was a change in the most popular PKD in businesses established by Ukrainian citizens. In 2022, the number 1 specialty was hairdressing and beauty services. Now – software-related activities. And the advantage of this specialty is growing significantly. Gastronomic activities dropped out of the top six, and it was still there in 2022. Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Relief for micro-enterprises on the horizon
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. Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Microbusiness says: pass
Microbusiness says: pass InfoCredit Business Activity Index In 2023, 372.5 thousand businesses were suspended. This is definitely more than in 2022, which was already a record low. Last year, as many as 198.2 thousand businesses were closed – the most since 2014. The InfoCredit Business Activity Index fell to its lowest point on a quarterly basis since we started counting it (January 2018).In total, there were almost 571 thousand suspended and closed businesses in 2023, and 479.5 thousand new and resumed businesses. Exactly what we expected happened. And we are not proud of it. In October, we wrote that if Polish micro-entrepreneurs were to suspend their businesses at the same pace as they had been doing up until September, the record would be broken. And it would be broken by a lot. And it was broken. In 2023, 372.5 thousand businesses were suspended. A year earlier, 347.4 thousand. The fact that 198.2 thousand businesses were closed is also very worrying. This is the worst result since 2014. The advantage of suspended and closed businesses over new and reopened businesses has increased even more. The result – the InfoCredit index, calculated quarterly, is the lowest in history. What’s going on? Nothing new. The cost of running a business on your own has been constantly growing for over 2 years. Because that’s how long we’ve been dealing with high inflation. Let’s recall – we had this problem in Poland long before the outbreak of the war in Ukraine. In January 2022, inflation was 9.2 percent y/y (minimum wage in 2022 was PLN 3,010 gross, hourly rate 19.70). And then it only got more expensive. Price increases mean higher business costs, greater employee pressure for pay rises (which is hardly surprising given the record low unemployment rate), an increase in the minimum wage and other wages. And consequently, an increase in ZUS contributions and burdens on businesses. In the meantime, entrepreneurs (and not only them) received a gift in the form of the Polish Deal (we deliberately write with a small one), i.e. an additional burden in the form of a non-deductible health insurance contribution. The disturbing trend of an increase in suspended and closed businesses began in mid-2021, right after the announcement of the assumptions of the Polish Deal. And it accelerated significantly after the Polish Deal was implemented. What now? We don’t have good news. Entrepreneurs welcomed the new year, and with it, more burdens. The ZUS contribution is now PLN 1,600.27 compared to PLN 1,418.48 in 2023. Can’t you do it alone? Do you employ? The minimum wage is already PLN 4,242 gross, and it was PLN 3,600 in 2023 in the second half of the year. The hourly rate is increasing from PLN 23.5 to PLN 27.7. Reliefs? For now, it’s vague. The tax-free amount of PLN 60,000 is not possible for now. ZUS vacation for a month? The bill is there, it is to be submitted to the Sejm by March. A lot can still happen in business until March. For now, one thing is certain – sole proprietorship is becoming less and less attractive compared to… full-time employment. Given the situation on the labor market. InfoCredit Business Activity Index Our business activity index shows the ratio of new and resumed business activities to closed and suspended ones. When the index is positive, it means that more businesses were established and suspended than were suspended and closed. The higher the index value, the greater the propensity to open small businesses. When the index indicates values below zero, it means a retreat from this form of economic 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. Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
EU money: 110,000 companies under scrutiny
EU money: 110,000 companies under scrutiny Obtaining subsidies just for the sake of subsidies will not make your business start spinning on its own. You need to have a business idea and invest in research and development. If you do that, you will develop much more than entities that do not use subsidies – according to the InfoCredit analysis. In 2019-23, almost 110,000 investments and projects were implemented in Poland with the participation of EU funds, for which beneficiaries obtained a total of PLN 103.07 billion. Based on our own databases and information from, among others, the Office of Competition and Consumer Protection and other open sources, we decided to check how Polish companies have used EU funds in recent years and how this has translated into their development. We have analyzed all projects with EU funding, the implementation of which began after 1 January 2019. We have taken into account only EU funds. In total, we have analyzed 110,000 entities. According to InfoCredit statistics, the largest beneficiaries of EU funds were public administration and national defense, as well as compulsory social insurance (32.2 thousand completed projects), industrial processing (13.6 thousand), consortia consisting of several entities from different sectors (7.5 thousand), education (6.9 thousand), entities conducting scientific and technical activities (6.8 thousand), financial and insurance activities (6.1 thousand), other service activities (5.7 thousand), as well as entities from the healthcare sector (5.4 thousand) and information and communication (3.9 thousand). At the bottom of the list is mining and quarrying, which implemented only 169 projects with the participation of EU funds. This sector, on the other hand, was distinguished by the most efficient use of these funds. Here, the profitability of companies using subsidies increased the most compared to entities that did not use them – by 6.5 percentage points. For example, on a national scale, the difference was 1.1 percentage points. In terms of numbers, the largest number of projects was implemented under two regional programs: for the Warmian-Masurian Voivodeship (over 17 thousand) and the Wielkopolska Voivodeship (11.2 thousand). In terms of the amount of funding, the most popular were: the Smart Growth Operational Program, from which Polish companies obtained over PLN 24.6 billion, the Knowledge Education Development Operational Program (PLN 11.4 billion) and the Infrastructure and Environment Operational Program (over PLN 9.4 billion). The most active in obtaining EU funds were companies from the Silesian Voivodeship, which received a total of PLN 9.9 billion for the implementation of almost 8.5 thousand projects. Next came companies from Małopolska (PLN 7.9 billion) and the Łódź province (PLN 6.6 billion). In terms of numbers, the largest number of projects with EU funding were implemented by companies in the Warmian-Masurian province (almost 18 thousand), the Wielkopolska province (13 thousand) and the Łódź province (10.8 thousand). The largest number of projects implemented by beneficiaries concerned promoting social inclusion, combating poverty and discrimination (almost 30.9 thousand) and strengthening the competitiveness of SMEs (over 27.2 thousand). In turn, the largest amount of funding (over PLN 18.1 billion in total) went to companies for activities related to strengthening scientific research, technological development and innovation. Analyzing the data of around 110,000 companies that have obtained EU funding, it is clear that their revenues and profitability have increased compared to those that have not received it. A good example here is the wholesale trade industry. Thanks to EU funds, companies in this sector recorded twice the increase in revenues in 2018-2021 compared to entities that did not receive funding. On the other hand, statistics show that companies that did not apply for EU funds are also doing well. This means that aid funds are not necessary to function quite well in competitive conditions. Of course, if the company is well managed. Our analysis shows that wholesale and retail trade, as well as vehicle repair, are the industries that have benefited the most from EU support. In 2018-2021, companies from these sectors that received EU funds increased their revenues by as much as 55 percent. For comparison, the revenues of companies not using EU support increased by 27 percent in the same period. A similar relationship is also most clearly visible in the healthcare, education, water supply, sewage and waste management sectors, as well as in agriculture and forestry. The most active in terms of the ability to use EU funds to generate new revenues were companies from the West Pomeranian Voivodeship – in this region, the revenues of companies that took advantage of such support increased by 65 percent in 2018-2021. For comparison, the revenues of companies not using EU funds increased by only 16 percent in the same period. In the second-placed Silesian Voivodeship, these indicators were 52 and 25 percent, respectively. Want to order a report? Write to us: infocredit@infocredit.pl Previous newsNext news Need a quote or order? Write to us bok@infocredit.pl
InfoCredit Business Activity Index
InfoCredit Business Activity Index Microbusiness on hold In the first three quarters of 2023, 268.6 thousand businesses were suspended. This is much more than in the same period of 2022 (249.7 thousand) and in 2021 (174.9 thousand). In the third quarter of 2023 alone, 96.3 thousand businesses were suspended, compared to 88.4 thousand a year ago and 72.7 thousand in 2021. The increase in the number of suspensions affected the InfoCredit business activity index. When counted quarterly after September 2023, it dropped significantly to -19,471 points, compared to -9,124 points a year ago and -5,523 points after September 2021. This year, the number of suspended businesses has been growing steadily. There are about as many terminated as in 2022, the first year in which the Polish Deal was in force. And it was still a weak year for micro-entrepreneurs. New and resumed micro-businesses do not compensate for the losses. On the contrary – the imbalance between those in the plus and those in the minus is constantly deepening. In the first three quarters of this year, 368.8 thousand businesses were established and resumed, 412.8 thousand were terminated and closed. It was similar a year ago, but the advantage of the latter was not so significant – 357.3 thousand compared to 393.7 thousand. It is also worth noting that the InfoCredit index after Q3 has never been so low. So we can say that the simplest form of business is experiencing an increasing crisis, and the trend that began to emerge in 2020 is strengthening. Let us recall – in 2022, a total of 347.3 thousand businesses were suspended, which was a record. 193.2 thousand were terminated. activity – the most since 2014. Everything indicates that last year’s inglorious records are at risk. If in the fourth quarter entrepreneurs suspend as many activities as in the third, the result from 2022 will be beaten. There can be only one conclusion – micro-entrepreneurs need support like never before. They have been struggling with crises practically since the beginning of 2020. First with restrictions related to the epidemic, then with the effects of the war in Ukraine, inflation, increased operating costs and now with the burdens related to the Polish Deal. And on the horizon – more burdens. In accordance with the adopted assumptions of the draft state budget for 2024, the average salary will amount to PLN 7,824. This means an increase of as much as 12.8 percent compared to 2023. As a result, the amount of ZUS contributions for companies will increase significantly again. Not to mention the minimum wage. InfoCredit Business Activity Index Our business activity index shows the ratio of new and resumed business activities to closed and suspended ones. When the index is in the positive, it means that more businesses have been established and suspended than 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 economic activity. The more the index is in the red, the more small entrepreneurs withdraw from business (definitely or temporarily). We publish the index on a quarterly basis (after each quarter) and monthly basis. Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl