What is it like at the Polish seaside?
What is it like at the Polish seaside? Did you know that… Rewal is a Polish municipality that experiences the fastest economic recovery in spring, only to fall asleep the fastest at the end of the summer holidays. The data on sole proprietorships (SMEs) is accurate. The 2025 summer season was highly unusual. The weather had a significant impact on seaside attendance and the tourism industry’s performance. However, a relatively warm September proved to be a boost for many entrepreneurs who decided not to suspend their businesses at the end of the summer holidays. Rewal is one of the municipalities in Poland with the highest number of business closures per 1,000 residents in the spring. In this municipality, the InfoCredit index is approaching +50 points before the season, meaning that one SME for every 20 residents is suspended or reopened. In the fall, the reverse is true. After August, the indices for typically tourist-oriented, coastal municipalities plummet, reaching values similar to those in spring, but in the red. For example, in Rewal, one SME for every 20 residents is suspended. But… the weather determines the final score. Coastal municipalities have seen smaller declines after August this year than last year. Rewal remains the leader in the negative ranking, but its score improved from -45 points in 2024 to -35 points in 2025. Mielno remained practically at last year’s level (-29 points), while Władysławowo and Łeba saw a slight improvement. Only Krynica Morska recorded a decline, dropping from -13.7 points to -15.5 points. New municipalities also appeared on the list – including Ustronie Morskie, Krokowa, Solina, and Jastarnia – but their declines are much smaller, ranging from -4 to -9 points. This signals that, from a broader perspective, local tourism economies did not experience as abrupt an “autumn slumber” as in 2024. Why? This summer was unusual. July was cool and rainy, leading to a wave of cancellations and short-term vacations. September, however, turned out to be exceptionally warm and sunny. As a result, many tourists postponed their vacations. This shift in tourist flow meant that establishments and guesthouses didn’t close as abruptly at the end of August as they did the previous year. The conclusions from this year’s data are clear: seasonality still determines the economy of tourist municipalities, but unusual weather conditions can significantly mitigate the scale of declines. This demonstrates how dependent local businesses are not only on the holiday calendar, but also on the weather and tourists’ willingness to plan their trips flexibly. There are 2,477 municipalities in Poland. We monitor them all. Want to know what’s happening in your voivodeship, district, or municipality? Contact us: infocredit@infocredit.pl or media@infocredit.pl. We look forward to hearing from you. How we calculate the InfoCredit Business Activity Index Our business activity index shows the ratio of new and reopened businesses to closed and suspended businesses. A positive index means that more businesses were started and reopened than were suspended and closed. The higher the index value, the greater the propensity to open small businesses. A negative index value indicates a retreat from this form of economic activity. The further the index falls, the more small businesses are going out of business (permanently or temporarily). We publish the index quarterly (after each quarter) and monthly. For individual municipalities, the index value is calculated per 1,000 inhabitants. Poprzedni artykuł Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@infocredit.pl
The results of Polish companies under scrutiny
The results of Polish companies under scrutiny 2023 was the first year in seven years when Polish commercial law companies experienced significant slowdown. Revenues continued to grow (by over PLN 348 billion) and total assets (+PLN 448 billion). Equity also increased, which may indicate attempts to strengthen financial stability. However, despite the expansion in the scale of operations, the financial result deteriorated. We recorded a significant decline in profitability, the largest since 2017. At InfoCredit, we analyzed the results of over 360,000 commercial law companies operating in Poland. We know (almost) everything about them. Both average gross profit and average net profit decreased compared to 2022. Profitability indicators – ROE, ROA, and ROS – also declined, indicating declining operational efficiency. Despite this, some entities invested in digitalization and sustainable development, trying to adapt to the new reality. The situation gradually improved in subsequent quarters. As a reminder, the first three months saw a 1.2% decline in GDP. The last quarter was the best (1.9% growth). Inflation was a real nightmare for entrepreneurs – at the beginning of the year, it stood at 16.6% year-on-year. It’s worth noting that the turbulence of 2023 didn’t translate into employment – employment was at its highest in 2022 and 2023 (an average of 46 people per surveyed company, compared to 39 in 2017). Let’s take a closer look at the detailed data for the surveyed sample of Polish companies. Average equity capital in 2023 was PLN 7.83 million, increasing by PLN 1 million year-on-year. In previous years, the best result was recorded in 2021 (PLN 7.33 million). Average assets increased significantly in 2023. Since 2019, we have seen increasingly rapid growth across the sample of companies surveyed. However, average intangible assets per company remained relatively unchanged. In 2017 and 2018, they remained at PLN 0.46-0.47 million, falling to PLN 0.38 million in 2020 and recovering to PLN 0.41 million in 2023. Is it good? It depends. Let’s move on to profitability. After some stabilization in 2017-2019, we saw significant growth in 2020-2022. And a significant reversal in 2023. Average gross profit fell from PLN 3.43 million to PLN 2.96 million. Net profit fell from PLN 2.76 million to PLN 2.38 million. It’s worth noting that in 2017, these figures were PLN 1.5 million and PLN 1.22 million, respectively. Interestingly, between 2017 and 2022, the group of companies examined recorded significant increases in ROE, ROA, and ROS. In this regard, we didn’t experience any major turbulence in 2020, the first year we faced the effects of the pandemic and restrictions. The outbreak of a full-scale war in Ukraine did not significantly impact these indicators, despite accelerating inflation and fluctuations in the commodity market. But – in 2023, the effects of the turmoil and economic slowdown were already strongly felt. In summary, rising costs, wage pressure, and persistent inflation have reduced businesses’ ability to generate profits despite rising revenues. SMEs were hit particularly hard, having limited opportunities to pass on costs to customers. High interest rates limited access to financing, exacerbating liquidity problems. These problems were felt not only by commercial law companies but also by sole proprietorships. As a reminder, in 2023, 372,500 sole proprietorships were suspended, compared to 347,400 the previous year. A staggering 198,200 businesses were terminated – the highest number since 2014. What was 2024 like? Has there been a rebound? We will report on this soon once companies have fulfilled their reporting obligations. Want to know more? Interested in results in specific industries? Contact us and request an analysis: media@infocredit.pl. Poprzedni artykuł Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@infocredit.pl
Did you know that…
Did you know that… JDG InfoCredit Index In recent days, there has been a heated debate over deregulation and health insurance contributions. InfoCredit data indicates that truly strong arguments are needed to reverse the unfavorable trend of suspended sole proprietorships (SMEs). In 2024, nearly 376,000 SMEs were suspended. This was the third consecutive year when a record was broken. Nearly 565,000 SMEs were suspended and closed, compared to 479,000 new and reopened businesses. January 2024 continued to be weak. Nearly 59,000 businesses were suspended and closed, compared to nearly 39,000 new and reopened businesses. As a reminder, even in 2020 and 2021, when the pandemic hit hard, the number of suspended businesses was 282,000 and 278,000, respectively. A significant change occurred in 2022, the first year in which the Polish Deal was in effect, when 347,000 businesses were suspended. Self-employed workers (JDG). What does this mean? The positive economic forecasts for this year and the announcements of major investments are not yet encouraging micro and small entrepreneurs to make bold decisions, open new businesses, and return to the market. Deregulation? Absolutely. However, data shows that costs are still the biggest problem for self-employed workers (JDG). Fact – as of January 1, 2025, changes have been introduced to reduce the burden of health insurance contributions for entrepreneurs. The minimum contribution base has been reduced to 75% of the minimum wage, allowing those with the lowest income to save up to approximately 105 PLN per month. Additionally, revenue from the sale of fixed assets and intangible assets has been excluded from the contribution base, reducing the burden on companies engaging in such transactions. I hope the debate over health insurance contributions ends as soon as possible. It’s clear that in business, clear conditions here and now are better than vague promises and unrealistic proposals. Poprzedni artykuł Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@infocredit.pl
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
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
Ukraine – Poland: cooperation in numbers
Ukraine – Poland: cooperation in numbers There are 14,786 entities in Poland linked to Ukraine through capital or beneficiary, including entities with at least one Ukrainian citizen on the board. These are not only companies, but also associations and foundations. The oldest of them was founded in 1901. The next two in 1948. However, the real breakthrough in contacts between our and Ukrainian businesses was only the jointly organized EURO 2012. 14,335 – that is how many entities with Ukrainian capital or personal ties have been established in Poland since 2012. The total annual revenues of companies with Ukrainian capital or related (of course, those that report their results) amount to as much as PLN 18.1 billion. The revenues of the ten largest entities amount to PLN 4.44 billion, and the hundreds to PLN 9.93 billion. PLN 12.54 billion – these are the assets of companies with Ukrainian capital in Poland or related to a shareholder or board member. The data concerns entities that submitted a report for 2020. Their annual net profit is PLN 577.8 million. The vast majority of Ukrainian companies in Poland are micro and small companies. Among those that provide such data: – 6120 are micro-enterprises; – 574 small; – 39 medium; – 6 large; – 2 very large. Employment data is provided by a small fraction of entities from the aforementioned group. 1935 employs 17,602 people. And what did Polish business in Ukraine look like in February this year, i.e. before the Russian aggression? 2486 – that is how many companies with Polish capital operated in Ukraine 459 – that is how many companies with 100% Polish capital among them 1316 – that is how many of them provided information on turnover EUR 1.62 billion – that was the total turnover of 1316 companies with Polish capital 28.4 thousand – that is how many people were employed by companies with Polish capital in Ukraine. Data provided by 1,186 companies We prepared the data in connection with the conference “Supporting the economic recovery of Ukraine: Polish and European financial instruments”, which took place on November 28 in Kyiv. The conference was organized by the Union of Entrepreneurs and Employers (ZPP). InfoCredit was the substantive partner of the event. More about the cooperation of our countries in the report “Europe-Poland-Ukraine: Rebuild Together”, which was published today, i.e. on December 13, 2022 by ZPP. “Europe-Poland-Ukraine: Rebuild Together” is a program aimed at supporting the activity of Polish companies both in the context of the reconstruction of Ukraine and ongoing cooperation with Ukrainian entrepreneurs. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Did you know that…
Did you know that… Companies from the Poczta Polska Group paid PLN 73.3 million in CIT for 2021, and the InPost Group paid PLN 210.52 million. Rafał Brzoska’s post caused a huge storm in social media, and consequently in the economy. The CEO of Integer.pl/Inpost Group compared the amounts of income tax paid to the Polish budget by his companies and companies with foreign owners. In the courier industry, InPost is the largest tax payer – for 2021, it paid over PLN 222 million to the budget in CIT (despite significant investments), and all foreign competitors of Mr. Rafał Brzoska’s companies present in Poland about PLN 60 million less. We do not want to take part in the discussion of who, why and how much should pay taxes in Poland. We are an analytical company specializing, among others, in providing tools and analyses regarding transfer pricing. Our specialty is data and analyses. So – let them speak. Yes, the InPost Group is the largest CIT payer in the courier industry. Even the postal sector. To show this, we focused on Polish entities. We compared the results of the InPost Group companies with the results of the Poczta Polska Group companies. We adopted the methodology of the President of InPost and added up the results of the companies from both groups. The revenues of the InPost Group companies (InPost sp. z o. o., InPost Paczkomaty sp z o. o.) in 2021 amounted to PLN 4.6 billion. The revenues of the Poczta Polska Group companies amounted to PLN 6.4 billion. The operating profit of the InPost Group was PLN 1.14 billion, and the Poczta Polska Group PLN 223.8 million. Gross profit: PLN 928.6 million compared to PLN 259.28. The income tax ratios for 2021 are as follows: PLN 210.52 million to PLN 73.3 million. Of course, each company has its own specifics, mission, etc. It is difficult to compare InPost with Poczta Polska Group. Our role is to provide Customers with analyses and hard data. Which we do. If you would like to check how much and who paid into the budget for CIT – we recommend ourselves. InfoCredit – we provide data and analyses, you draw conclusions. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Guests from Ukraine go on their own
Guests from Ukraine go on their own A sharp increase in the economic activity of our neighbours in Poland in 2022 In 2022, there was a significant increase in the number of new businesses established by Ukrainian citizens in Poland. After February, significantly more were established than in previous years. These are mainly service activities, and the most popular industry is hairdressing and beauty treatments. But not only that. IT specialists also went out on their own in Poland this year. Still a lot of businesses (no less than in previous years) were also established in construction and transport – according to a report by the analytical company InfoCredit. By the end of 2021, there were 7,117 businesses established by Ukrainian citizens in Poland, including 6,310 active ones. This year, there was a significant increase. By the end of August, our eastern neighbors had submitted 9,374 applications to establish a business, of which 8,446 are active. – Business activity, despite increasing burdens and constant changes in tax regulations, is still the simplest form of business. With a PESEL number, with the help of volunteers and support of officials, it can be done practically immediately. Cooperation between Polish and Ukrainian businesses in rebuilding our neighbors’ country is still a matter of the future. Today, our guests are trying to find their place in our country, also in business, because they want to be independent – says Jerzy Wonka, Development Director at InfoCredit. In Poland, in general, after a significant drop in applications to start a business from 26,567 in January to 21,792 in February 2022, there was another increase of approx. 5,000 in the following months. It can be assumed that this is the result of applications submitted by Ukrainians. At least partially. Large cities as the main target Our guests started the most businesses where there is the greatest chance of gaining customers. It is no wonder that they were most willing to go to Warsaw and the largest cities. The distance from the border did not matter here. What mattered was the attractive market, the chance to settle down and find an apartment. This year, Ukrainian citizens started the most businesses in Mazovia (2262), Lower Silesia (1473) and Lesser Poland (1285) provinces. Pomerania is in 4th place, and Wielkopolska is in 5th place (1040 and 701 respectively). Interestingly, Silesia was not in the top five (only 459 businesses). Ukrainians started more businesses in West Pomerania (493), for example. In provinces located in the east of Poland, there were much fewer businesses by our guests. In the Podkarpackie region 209, in the Lublin region 253, and in the Podlaskie region only 59, even less than in the Warmia and Mazury region (61). The main business and earnings target was of course Warsaw. In the capital this year, our guests established 1,764 new businesses. In second place was Krakow (1,042), which slightly overtook Wroclaw (1,040). In Wroclaw and Gdansk, 434 and 417 businesses were established, respectively. Szczecin significantly overtook Lodz (314 vs. 237), and Katowice is not in the top seven most attractive cities for starting a business according to Ukrainians. In which industries were Ukrainian citizens most active this year? Contrary to appearances, these are not exclusively female specialties. The fact is that the largest number of applications for establishing new businesses was definitely submitted in the category “Hairdressing and other cosmetic treatments” (1,131). In second place is the activity related to software, which can be successfully performed by both women and men. This year, there was no shortage of applications for establishing businesses related to construction or transport, although in the latter case there were fewer of them than before (only 280). – Women and children constituted the vast majority of war refugees. However, many men accompany their families to our country or simply decided not to return. So they could establish businesses when their families joined them, knowing that they would stay with us for a longer time – says Jerzy Wonka. InfoCredit is a substantive partner of the conference “Europe – Poland – Ukraine. Rebuild Together”, which will be held on October 5 in Warsaw. The event is organized by the Union of Entrepreneurs and Employers and the Warsaw Enterprise Institute. More information: https://konferencjaukraina.zpp.net.pl/ Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Did you know that…
Did you know that… 1,551 – that is how many entities with Russian capital are registered in Poland, directly or indirectly linked to people from Russia or where a person from that country was indicated as the final beneficiary – according to the InfoCredit database. They employ about 40,000 people (this refers to those that provide such data). Not all of them file reports regularly. The balance sheet total of companies for which reports are available for at least 2019 is… …PLN 13.096 billion. The revenue of companies that filed reports at least until 2019 is… PLN 37.79 billion. The aggregate net result of all entities is… PLN 1.366 billion. The largest number of entities with Russian capital are micro-companies. Division by size: Very large 15 Large 5 Medium 43 Small 127 Micro 681 If you are interested in checking whether you are dealing with companies with Russian capital or associated with Russia, please contact us at: bok@infocredit.pl . Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Trade fairs for permission to trade fairs
Trade fairs for permission to trade fairs Did you know that… 24.5 percent – this is how much the revenues of a group of 8 companies from the Polish exhibition industry fell in 2020 – according to data from the analyzed companies that have already published their results for the previous year. The loss on sales deepened from PLN 9.8 million to PLN 83.99 million. Interestingly, the net result of the group of 8 companies in 2020 was positive (PLN 14.8 million compared to a loss of PLN 18.8 million in 2019. This means that the industry leaders quickly found a way to operate during the epidemic and were able to use aid programs. The broad trade fair and event industry estimates that the real losses are already PLN 2.5 billion. The trade fair industry was one of the first to feel the restrictions related to the epidemic and was one of the last to receive a chance to operate normally. In total, it was exposed to over a year of complete stagnation. Trade fairs under the sanitary regime can be held from June 6. The problem is that the holidays are a dead period for the trade fair industry. According to cautious estimates by the Committee for the Defense of the Trade Fair Industry (KOBT), only about 35% of pre-pandemic companies remain on the market, whose production capacity is now only 40%. The industry is appealing for help and a flexible approach to the epidemic situation. One that will allow it to survive the next wave. Especially since the fair is not only about large and well-known companies. It is also about small entrepreneurs cooperating with the fair organizers – sound and lighting specialists, scenography creators, and stage builders. At InfoCredit, we have tracked the results of companies from the exhibition industry that have already published reports for 2020. There are 8 of them. Their aggregated results confirm that it was a very difficult year for the industry. However, the leaders, despite a significant drop in revenue, were able to adapt to the new reality. The revenues of the analyzed comparative group in 2020 fell by 24.5%. In the case of the leaders, these declines are even greater – MTP revenues are 42% lower. However, it is worth paying attention to Ptak Warsaw Expo. The revenues of this company in 2020 increased by almost 70%. The loss on sales of the analyzed group deepened from PLN 9.8 million in 2019 to PLN 83.99 million in 2020. However, the group’s operating and net result is already positive (operating PLN 28.2 million compared to PLN -11 million in 2019, net PLN 14.8 million compared to a loss of PLN 18.8 million in 2019). What does this mean? Firstly – a significant reduction in costs, secondly – taking advantage of the opportunities that the fairs were given by the space to organize support to fight the epidemic. And the flexibility to take new actions. – The results of the analyzed group confirm that large companies in the industry took advantage of the opportunity to change their activities to the maximum. However, this is only a part of the broad exhibition industry. Smaller companies and entities cooperating with fairs had the biggest problems. And they are the ones who are on the verge of bankruptcy. This is not good news, because after the epidemic, competition in the industry will be much smaller – says Jerzy Wonka, Development Director at InfoCredit. If you would like to follow how the condition of other industries changed in 2020, please contact us: media@infocredit.pl. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl