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
Transfer pricing season didn’t end in November!!
Transfer pricing season didn’t end in November!! Did you know that in 2024 in Poland, 757 entities with sales revenues exceeding PLN 10 million and at least 1 shareholder with a share of over 25% filed financial statements for a financial year other than the calendar year? Interestingly, as many as 357 of these entities prepared financial statements as of March 31, 2024, which means that (assuming the existence of mandatory transactions) they must have complete local transfer pricing documentation for the fiscal year ending in 2024 by the end of January 2025 and submit the TPR-C form by the end of February 2025. This is therefore the final call to ensure compliance with reporting requirements or to finally ensure that the documentation – including benchmarking analyses – is complete and does not expose the taxpayer to the risk of challenge. If:✔️ you need help in preparing documentation or comparative analyses,✔️ If you want to obtain data on entities with a shifted fiscal year, please visit 👉 InfoCredit ❕ https://infocredit.pl/en/about-us/contact And if any of you would like to learn how to prepare benchmarks yourself or improve in this area, we also invite you to our training ❕https://infocredit.pl/en/offer/trainings Poprzedni artykuł Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@infocredit.pl
January was a bit disappointing
January was a bit disappointing JDG InfoCredit Index After a slight thaw in the last quarter of last year in sole proprietorships (SMEs), when the predominance of suspended and closed businesses over new and reopened businesses began to diminish, we expected a warmer January 2025. It was, but outside. The data showed a chill again. In January, 58,595 businesses were suspended and closed. There were 38,632 new and reopened businesses. The InfoCredit index is therefore still well below zero at -19,963 points. January 2025 was similarly weak to last year (the index was then worth -21,967 points) and weaker than January 2023 (-17,202 points). Admittedly, it’s been worse. After the first month of 2022, our index reached its January low (-29,866 points). However, this was the first year of the Polish Deal and a mass retreat from business activity. The end and beginning of the year always bring a seasonal preponderance of suspended and closed businesses over new and reopened ones. Our index hasn’t yet turned positive at the beginning of the year. However, there have been times when the data was much better than today, such as in 2019 and 2020 (-4,768 points and -9,870 points, respectively). But that was in the previous era – before the pandemic and everything that happened since. There’s no breakthrough, then. Economic recovery is visible on the horizon. Forecasts for this year even call for GDP growth of up to 4%, compared to 2.9% last year, according to preliminary data. Funds from the National Operational Programme (KPO) are flowing for investments. So far, this hasn’t translated into a recovery in economic activity or the confidence of micro-entrepreneurs. Perhaps they need more evidence of an economic recovery? These are slowly trickling in. Earlier this week, we learned that consumers were more willing to spend their money in January – retail sales unexpectedly increased by 4.8% year-on-year. The automotive sector was most affected (+21.9%) and furniture, consumer electronics, and household appliances (+13.6%). Clothing saw growth of almost 9%. What’s next? February (until February 21st) looks promising, better than in recent years. There’s a good chance the IC index will rise after February, from its current level of around -20,000 points to around -4,000. Perhaps we’ll even see a balance? Everything depends on the last week, as that’s when CEIDG typically sees the highest activity. Poprzedni artykuł Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@infocredit.pl
We are bouncing back from the December bottom
We are bouncing back from the December bottom JDG InfoCredit Index Throughout 2024, 375,700 sole proprietorships (SMEs) were suspended. We’ve set a record again – for the third time in a row. In 2023, we recorded 372,500 suspensions. The good news is that the negative trend slowed somewhat in the fourth quarter of last year. After the third quarter, we warned that suspensions could reach nearly 400,000. The InfoCredit Business Activity Index has rebounded slightly quarter-on-quarter. It remains significantly negative, but significantly higher than after the fourth quarter of 2023 and 2022. The monthly IC index is similar. At the end of December, it was higher than a year ago and after 2022. Is this the end of the significant advantage of suspended and closed businesses over new and reopened ones, which emerged after the announcements of the Polish Deal? We’ll see. One thing is certain: relief for micro-entrepreneurs is starting to take effect. Or are we slowly becoming accustomed to the challenging conditions of running a business? In October, we were deeply concerned. We wrote then that in the third quarter of last year alone, “103,300 business activities were suspended. That’s 6,718 more than in the same period in 2023, which was already record low.” Everything indicated that the quarterly and monthly IC Index could bottom out. This did not happen. Why? In the fourth quarter of 2024, 93,300 businesses were suspended – 10,000 fewer than in the third quarter and 9,100 fewer than a year earlier. There were also significantly fewer closed sole proprietorships (JDGs) than a year earlier (47,100 vs. 53,300). Business resumptions increased (41,300 vs. 38,000). There were only slightly fewer new businesses than a year ago (67,400 vs. 69,900). This meant that the indices remained negative after the fourth quarter, but significantly moved away from the seasonal bottom. December 2024 was significantly better for sole proprietors (JDG) than in recent years. 32,000 businesses were suspended, compared to 37,800 the previous year. 19,700 businesses were closed, compared to 20,400. Does this mean that the promised and implemented tax relief for micro-entrepreneurs is starting to influence their moods and decisions? Already at the end of last year, it was possible to take advantage of the ZUS (Social Insurance Institution) tax holiday. Health insurance contributions on revenues from the sale of fixed assets were abolished. As of January 1st, the minimum health insurance contribution base was reduced to 75% of the minimum wage. This translates into savings for low-income entrepreneurs. In addition, there are preferential ZUS contributions (new entrepreneurs or those who have completed their start-up tax relief can continue paying them for 24 months). Piotr Kuczyński, Chief Analyst at DI Xelion, believes that the tax relief may have influenced entrepreneurs’ decisions at the end of the year. But that’s not all. “For lower-income sole proprietors (SDUs), such relief is important. The outlook for our economy could also have a significant impact on everyone’s decisions. We expect a recovery this year, thanks in part to PLN 120 billion in investments from the National Operational Programme (KPO) and the Cohesion Fund. Of course, this money will flow mainly to large companies, but where small giants benefit, they can also benefit. The cost situation has stabilized. Average annual inflation of 3.6%, or even 5%, recorded in December isn’t a disaster. So, if I were to open a business, this is a good time. If I had a choice between suspending or not, I wouldn’t. The geopolitical situation remains complicated, but… we’ve been living with this for three years,” says Piotr Kuczyński. 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
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