Welcome back Grey Zone. 2.0
Welcome back Grey Zone. 2.0 InfoCredit Business Activity Index In the first half of 2022, and mainly in the second quarter, entrepreneurs tried to adapt to the new reality. Inflationary, tax-war reality. There were more new and resumed business activities than in the same periods of 2021 and 2020. The problem is that there were much more suspensions and terminations of activities than in the previous two years. On the one hand, the cancellation of the epidemic and the lifting of restrictions brought new opportunities. On the other hand, the increase in tax burdens and costs forced many businesses to suspend and close. Polish entrepreneurs, especially micro entrepreneurs, perfectly sense every business opportunity and every problem. We have been learning about this since the transformation. They have been building Poland’s GDP and economic success since 1989. – Can’t you cope with the burdens with the current regulations? Back off. Is there an opportunity? Take advantage! This is how Polish entrepreneurs have approached work for years. In the last three years, with such huge volatility of the economy and business conditions, this has been clearly visible. So what if there are more new and resumed economic activities in Q2 than in the same periods of 2021 and 2020? There are many more suspensions and closures – says Jerzy Wonka, development director at the analytical company InfoCredit. Let’s look at the data. There were 238,336 new and resumed businesses in the first half of 2022. This is much more than in 2021 and 2020 (229,276 and 223,220, respectively). Suspensions and terminations? 265,500 in the first half of 2022, compared to 198,485 in 2021 and 213,395 two years earlier. We observed the greatest escape from business activity at the turn of 2021 and 2022. In January 2022, 26,528 applications were recorded to start a new business and 8,901 to resume it. 37,626 thousand entrepreneurs suspended their business and 27,235 thousand terminated it. No wonder, entrepreneurs were already afraid of higher tax burdens and confusion related to the Polish Deal. ZUS contributions also increased significantly – pension from PLN 615.93 to PLN 693.58 and disability from PLN 252.43 to PLN 284.26 (+12.61%). – The data clearly shows what is happening in our economy. On the one hand, we have the opening and resumption of seasonal holiday businesses for the first time in three years without restrictions. On the other – an escape from rising costs, taxes, unpredictability. The reduction of the PIT tax rate from July 2022 for people settling in the first threshold could have had some impact on the opening of seasonal business activities – adds Jerzy Wonka. Holiday business opportunities without restrictions related to the epidemic caused the Index describing the ratio of new and resumed activities to bounce back strongly. The problem is that the index describing the ratio of suspended and terminated businesses is diving again. Conclusions? Let’s prepare for turbulence in the third quarter. They will come in September and October, along with the increase in energy prices and the costs of doing business. – Our last report after the first quarter of 2022 was entitled “Welcome back Grey Zone”. Not much has changed after the first half of the year. We are still heading towards the grey zone. Small businesses do not like a vacuum. They will do their thing. I am afraid that we are returning to the times when “cash is the king”. The problem is that this does not apply to the złoty. Our currency is becoming hot paper. With such high inflation, small entrepreneurs will again rush to exchange money earned in the grey zone – as in the 1990s – for dollars and francs, in order to lose as little as possible. The weak złoty, on the other hand, is an opportunity for those who cooperate with foreign entities and receive part or all of their remuneration in euro or dollars – says Jerzy Wonka. And what is the state of economic activity in general? According to CEIDG data, three years ago there were 2,548,016 active business activities, including those conducted exclusively in the form of a civil partnership, compared to 2,601,617 at the end of the first half of 2022. This means that the number of active small businesses in Poland remains more or less constant. However, there was a sudden increase in suspended activities – from 449,296 after the first half of 2019 to 566,495 after the first half of 2019. How do we calculate the InfoCredit Index? The InfoCredit Index was created to track trends in micro-entrepreneurship, alternative forms of employment and self-employment at a time when the situation on the labor market and in individual industries is changing dynamically. The index, which is developed by the oldest company in Poland analyzing the economy, takes on a positive value when there are more new activities than closures. When there are fewer than closed ones – a negative value. In the same way, we also track the ratio of resumed to suspended activities. 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
Welcome back Grey Zone?
Welcome back Grey Zone? The Polish order has effectively frozen the plans of enterprising Poles. January was another disastrous month when it comes to the simplest business activity. Similarly to December 2021, significantly more applications were submitted to CEIDG for suspension and termination than for the establishment and resumption of a sole proprietorship. InfoCredit indices are still the lowest since March 2020, when entrepreneurs first reacted nervously to restrictions related to the epidemic. In January 2022, 26,528 applications were recorded for starting a new business and 8,901 for resuming it. 37,626 thousand entrepreneurs suspended their business and 27,235 thousand terminated it. – The tax system in force since 2022 can hardly be called transparent. There are opinions that it is the most complicated in the history of free economic activity. It is therefore difficult to expect other effects, such as those visible at the end of last year and at the beginning of this year. We regularly monitor economic activity. Since the beginning of the epidemic, we have been constantly publishing the InfoCredit index to analyze the impact of economic fluctuations on the propensity to entrepreneurship in Poland. This has been decreasing since the first half of 2021, when the assumptions of the tax system reform were announced – says Jerzy Wonka, Development Director at InfoCredit. The mass retreat and decline of the InfoCredit entrepreneurship index, the lowest since March 2020, was recorded in December 2021. At that time, 24,207 new businesses were established and 9,110 were resumed. 41,480 were suspended and 26,344 were closed. The turn of the year usually brings more activity in CEIDG, but a year ago it was not so bad. Let’s look at the data for January 2021: – new businesses 23,550;– resumed 8,574;– suspended 24,104;– closed 16,412. – The industry says that the New Deal, tested in Poland, can now be exported to Russia under sanctions. This is a bitter joke and I am far from laughing. The truth is, however, that entrepreneurs have issued an unequivocal assessment of the new tax regulations. With such inflation and a very tense geopolitical situation, it would be worth considering suspending the reform. I am afraid that with the growing burden on entrepreneurs, not only due to tax reasons but also due to the increase in fuel, currency and raw material prices, we will once again be dealing with an increasingly large grey zone – adds Jerzy Wonka. In February, the situation is gradually starting to normalize. In the first half of the month, 11,358 businesses were established, 4,907 were resumed, 10,291 were suspended and 7,979 were terminated. – There are more suspensions and terminations in total, but this advantage is gradually disappearing. We are waiting for data for the entire month, which will include the first days of the war in Ukraine. Only then will it be possible to draw more complete conclusions – says Jerzy Wonka. How do we calculate the InfoCredit Index? The InfoCredit Index was created to track trends in micro-entrepreneurship, alternative forms of employment and self-employment at a time when the situation on the labor market and in individual industries is changing dynamically. The index, which is developed by Poland’s oldest company analyzing the economy, takes on a positive value when there are more new businesses than closures. When there are fewer than closed businesses – a negative value. In the same way, we also track the ratio of resumed to suspended businesses. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
InfoCredit Business Activity Index
InfoCredit Business Activity Index Entrepreneurs vote with their feet – The InfoCredit Business Activity Index, describing the ratio of new to terminated business activities, fell to its lowest level in two years in December 2021. The same was true for the indicator describing the ratio of resumed to suspended activities. – In December 2021, there was a similar retreat from sole proprietorships as in March 2020, when entrepreneurs were terrified by restrictions due to the developing epidemic. One of the reasons was tax uncertainty. – In the entire fourth quarter of 2021, we also noted a significant increase in terminated and suspended activities. Although this is a seasonal phenomenon, in 2020 and 2019 these proportions were smaller. – Last year is another, after 2020, in which we noted a decrease in the number of CEIDG applications below 900 thousand in total. There were 889 thousand of them (850 thousand a year earlier) compared to 950 thousand in 2019, over 970 thousand. in 2017-2018 and almost 1 million in 2015. In December and throughout the fourth quarter of 2021, entrepreneurs who had concerns that the new regulations would significantly reduce the profitability of their businesses, went to CEIDG to submit applications to suspend and terminate their business. The result is a significant deepening of the downward trend of InfoCredit indices, which has been ongoing since May last year. – The closer to the turn of the year, the greater doubts entrepreneurs have about the profitability of their own business. Especially those for whom every increase in contributions or charges matters in the final analysis. Let us recall, for example: for many larger businesses, the increase in health insurance contributions from several thousand in 2021 to the forecasted several hundred thousand is an insurmountable barrier. This has been visible since May, when the assumptions of the Polish Deal were presented. In our opinion, their decision was also significantly influenced by the rising costs of operations driven by the increase in inflation. There is also growing talk that such an uncertain economic, legal and tax situation may contribute to another significant increase in the size of the grey zone – says Jerzy Wonka, Development Director at InfoCredit. The end of the year usually favors decisions to close or suspend a business. However, the past month was exceptional. 24.3 thousand businesses were established, 26.6 thousand were terminated, 9.1 thousand were resumed, and as many as 41.9 thousand were suspended. The retreat was most visible in the last decade of December – 15.9 thousand businesses were terminated and 27.2 thousand were suspended. It has not been this bad since the last decade of March 2020, when 28.4 thousand businesses were suspended and 3124 were terminated. – It is worth noting that in December 2021 there were significantly more terminations than in March 2020. At that time, entrepreneurs were holding off on decisions, waiting for the situation to develop. So they chose the state of suspension. Now many of them no longer have any doubts that the form of sole proprietorship, in the current conditions, has lost much of its attractiveness – adds Jerzy Wonka. More and more suspensions and terminations Q4 2021 was the worst in three years in terms of applications for termination and suspension of business. In total, 53.5 thousand businesses were terminated and 89.5 thousand were suspended. In the same periods of previous years, the figures were 40.5 thousand and 81.4 thousand (2020) and 48.4 thousand and 89.4 thousand (2019), respectively. The number of applications for termination and suspension of business activity increased from month to month, until the December peak in the last ten days of the month. In October and November, 23 thousand businesses were suspended, in December it was 41.9 thousand. The number of terminated businesses increased from 12.5 thousand in October to 14.6 thousand in November and to 26.6 thousand in December. Much fewer applications than in 2015-2019 In the whole of 2021, there was a slight increase in applications to CEIDG compared to 2020, when the economy suddenly entered a deep recession. In total, there were 889,138 applications, renewals, terminations and suspensions compared to 849,518 in 2020. In previous years, traffic in CEIDG was much higher – 950,359 in 2019, 972,000 in 2018, 979,374 in 2017, and even almost a million in 2015. It is worth noting that in the whole of 2021, there were significantly fewer new and resumed businesses (436.3 thousand) than terminated and suspended businesses (453.9 thousand). This has already happened in previous years, but not in such proportions. Rok Założenie* Zakończenie Zawieszenie Suma 2021 436 318 175 911 277 954 890 183 2020 425 334 142 375 281 809 849 518 2019 470 184 173 320 306 854 950 358 2018 491 647 177 083 303 270 972 000 2017 491 234 178 898 309 242 979 374 2016 465 970 181 053 307 132 954 155 2015 476 948 192 987 311 854 981 789 Suma 3 270 338 1 235 575 2 111 494 6 617 407 * It includes applications for starting and resuming a business. Source: CEIDG How do we calculate the InfoCredit Index? The InfoCredit Index was created to track trends in micro-entrepreneurship, alternative forms of employment and self-employment at a time when the situation on the labor market and in individual industries is changing dynamically. The index, which is developed by the oldest company in Poland analyzing the economy, takes on a positive value when there are more new businesses than closures. When there are fewer than closed businesses – a negative value. In the same way, we also track the ratio of resumed to suspended businesses. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
How to read trading reports?
How to read trading reports? Risk Management and Compliance activities have recently become particularly important. Where can I get data for these processes? How can I read them? InfoCredit experts will answer these questions during the free online training “Trade reports in risk analysis and counterparty verification” organized by Wolters Kluwer Polska. We invite you on December 9 at 12:00. In the area of Risk Management and Compliance, we are constantly seeing significant changes. This results not only from internal regulations in companies, but also from the constantly tightening regulations regarding transactions with related contractors, including from tax havens or outside the EU, control of ultimate beneficiaries or the obligation to verify the credibility of the contractor. Not only for the purposes of ensuring the security of receiving payment, but also to ensure the correctness of VAT settlements. The webinar will be led by Zuzanna Łaba, data analyst, and Jerzy Wonka, development director at InfoCredit. InfoCredit specialists will present effective tools for verifying contractors and analyzing competitive companies, which are already available in the program of our partner – LEX Informator Prawno-Gospodarczy. They will also tell, among other things, how to determine the company’s rating and obtain aggregated data for a larger group of contractors, sectors and industries. We cordially invite you. More information and registration here: https://bit.ly/3oTKUxH Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Inertia in applications to CEIDG
Inertia in applications to CEIDG After a promising first half of the year, Poles were no longer so keen to take matters into their own hands in the third quarter. There is no sign of recovery in CEIDG applications, although the economy is picking up. On the contrary, there is uncertainty. In the first three quarters of 2021, 636,440 thousand applications were submitted, compared to 647 thousand in the same period of 2020, although this was a time of licking wounds after a sudden, deep recession. In the third quarter of 2021, there was a significant increase in business suspensions – to 72.7 thousand from 48 thousand in the first quarter and 54 thousand in the second quarter. There were almost as many suspensions as new businesses. The second quarter of 2021 and the entire first half of the year gave hope for the increasing willingness of Poles to start new businesses. There was a recovery in economic activity and a return to the situation that we observed before the epidemic (i.e. in the second quarter of 2019). The third quarter did not confirm this. Entrepreneurs know how to count, they see the rising costs of doing business. And it’s not just about inflation… In Q3, a total of 73,000 new businesses were established (compared to 79.5 thousand in Q2 and 71.3 thousand in Q1), 39.2 thousand were closed (compared to 39.4 thousand in Q2 and 47.4 in Q1). However, there was a significant increase in suspensions. Resumptions slowed down – after 47 thousand in Q2, they fell to 33.3 thousand (31.1 thousand in Q1). Taking into account Q3 year-on-year, the situation in new and closed businesses has not changed significantly, although the economic situation is much better today than a year ago. There are much fewer resumptions than a year ago (in Q3 2020 there were 37.2 thousand), and much more suspensions than in Q3 2020 (then 57 thousand). – After H1, it might seem that in the following quarters the number of new businesses will grow faster than a year ago, there will be more resumptions and fewer suspensions. The economy has recovered, the labor market is in a very good situation and wages in the corporate sector are growing significantly. It might seem that a good opportunity has appeared on the market for independent specialists to go out on their own and provide services for several entities or simply – to start a business on their own. Meanwhile, we have a surprise – says Jerzy Wonka, Development Director at InfoCredit. In his opinion, this is not just the effect of waiting for the fourth wave of the epidemic and fears of further restrictions. – Today, more than ever before, entrepreneurs must reckon with rising operating costs. We haven’t had such inflation for a long time. The costs of materials are rising significantly, not only for construction or industry. Above all, energy and fuel. We also don’t know what final changes in taxes and levies will apply next year. One thing is certain – businesses are simply afraid that they will bear the cost of the Polish Deal. And here, unfortunately, they are right – adds Jerzy Wonka. What next? InfoCredit’s development director emphasizes that a full-time job offers greater stability than working on your own. Therefore, he does not expect the end of the year to bring any greater activity in CEIDG. How do we calculate the InfoCredit Index? The InfoCredit Index was created to track trends in micro-entrepreneurship, alternative forms of employment and self-employment at a time when the situation on the labor market and in individual industries is changing dynamically. The index, which is developed by the oldest company in Poland analyzing the economy, takes on a positive value when there are more new businesses than closures. When there are fewer than closed businesses – a negative value. In the same way, we also track the ratio of resumed to suspended businesses. 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
The Lost River: screening on 11.09
The Lost River: screening on 11.09 We cordially invite you to the only screening of the documentary film “The Lost River” during the Millennium Docs Against Gravity Festival. It’s already on September 11, at 4:15 PM at the Kinoteka in Warsaw. InfoCredit is the patron of the first documentary about the Urzecze, a land on the Vistula River, which stretched between the former mouths of the Pilica and Wilga and Siekierki and Saska Kępa. The Urzecze was farmed by, among others, the Olęders, agricultural innovators who came from Frisia and the Netherlands to the area of today’s Saska Kępa in Warsaw in the 17th century. They used the fertile alluvial soils brought by the Vistula during floods and achieved record harvests. The Urzecze was Warsaw’s granary. Building materials: sand, gravel and stones, flowed from here to the capital. Today, the Olęders on the Vistula are gone. They disappeared just before the end of World War II. However, we can still recall their history and contribution to the development of Warsaw and the region. It was brought closer to us by the creators of the film – Adam Rogala and Wiktor Strumiłło. As a patron of the film, we cordially invite our Clients to this exceptional screening. Please register now – due to the great interest in the Festival, the number of places is limited. The creators of the film, together with the Wawer District, are planning the next screenings in September (outdoor, in the Romantic Beach complex and in October (in the hall of the Wawer Culture Center). We will inform you about the dates soon. About the film “Zaginione Urzecze”, prod. 2020. Directed by Adam Rogala, cinematography by Wiktor Strumiłło, music by Warsaw Village Band/Kapela ze Wsi Warszawa, winner of the Fryderyk 2018. Patron of the film: InfoCredit, Wawer District. Teaser: https://www.youtube.com/watch?v=bpx3cqVyvGo&feature=youtu.be Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Small business returns to normal
Small business returns to normal InfoCredit Microenterprise Index In the second quarter of 2021, there was a revival in economic activity. Poles established more small businesses than in the first quarter of 2021 and in the second quarter of 2020. There were also more resumptions, fewer closures – according to CEIDG data.In the entire first half of 2021, significantly more applications were submitted to CEIDG than a year ago. 150.8 thousand new businesses were established, compared to 124.2 thousand in the first two quarters of 2020. InfoCredit microenterprise indices after the first half of the year are still close to the highest values this year. The indicator describing the ratio of new to closed businesses after H1 was worth +12,378 points (compared to +15,077 points after May 2021 and +15,492 after June 2020), and the indicator describing the ratio of resumed to suspended businesses was worth -4,443 points (+173 points after May 2021 and +11,929 after June 2020). With the improvement in the economy, easing of restrictions and a decrease in COVID-19 cases, the situation in small businesses is constantly improving. Q2 2021 brought a revival in economic activity and a return to the situation that we observed before the epidemic (i.e. in Q2 2019). April, May and June of this year are difficult to compare with the same period of 2020. The past quarter for small businesses was completely different than Q2 2020. – A year ago, we were just learning how to operate during the epidemic. The easing of restrictions took place just before the holiday season. This year, small businesses had a chance to slowly prepare for the season from April. Many small businesses that suspended their operations in March 2020 did not resume them until the end of June. This year, the seasonal suspension of operations was spread over several months and took place gradually right after the third wave of the epidemic – says Jerzy Wonka, InfoCredit’s development director. In the second quarter of 2021, 79.5 thousand business activities were established, 39.4 thousand were closed, 47.1 thousand were resumed, and 54.3 thousand were suspended. In the same period last year, 54.7 thousand were established, 47.4 thousand were closed, 31.1 thousand were resumed, and 61.3 thousand were suspended. The situation is similar in the entire first half of 2021. 150.8 thousand businesses were established (124.2 thousand in the first half of 2020), 86.8 thousand were closed (compared to 70.2 thousand), 78.2 thousand were resumed (compared to 99 thousand), and 115.5 thousand were suspended (compared to 142.9 thousand). The InfoCredit index, describing the ratio of new to closed businesses, rose to its highest value this year in May (+15,077), also remaining quite high after June (+12,378 points). The indicator describing the ratio of resumptions to suspensions in May came out positive to 179 points (which does not happen often, as it has usually been negative for years), to fall to -4443 points after June. – This is not a worrying phenomenon. Usually, before the holidays, at the end of June, business activities are suspended seasonally by entrepreneurs and specialists who want to take advantage of their vacations and at the same time reduce the burdens associated with running a business – adds Jerzy Wonka. What can we expect in the coming months? – The economic situation in the industry is great, wages are growing, the situation on the labor market is also quite good. This should favor small businesses that cooperate with large ones, and specialists who settle accounts with their clients while running their business. On the other hand – we do not know how quickly we will have to face the fourth wave of infections. And what restrictions we will have to deal with. Because the fact that another wave will occur is obvious given the current slowdown in vaccinations – adds the InfoCredit Development Director. How do we calculate the InfoCredit Index? The InfoCredit Index was created to track trends in micro-entrepreneurship, alternative forms of employment and self-employment at a time when the situation on the labor market and in individual industries is changing dynamically. The index, which is developed by Poland’s oldest company analyzing the economy, takes on a positive value when there are more new businesses than closures. When there are fewer than closed businesses – a negative value. In the same way, we also track the ratio of resumed to suspended businesses. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Glass ceilings are slowly crumbling
Glass ceilings are slowly crumbling Women hold 30.3% of positions on the boards of Polish companies, 22.5% are CEOs. The pandemic and the last 18 months have completely changed business relations and taught us to multitask. One thing has not changed. The number of female CEOs and board members of Polish companies is gradually increasing. Although perhaps not as quickly as everyone open to change would like. According to data from InfoCredit, an analytical company and the oldest Polish business intelligence agency (managed for over 30 years by its founder – Iwona Surdykowska-Huk), in May this year, women held over 30% of board positions in Polish companies. This is a significant increase since 2017, when it was 24.4%. The greatest increase has been recorded in recent years. In the spring of 2019, women held 24.7% of board positions, in 2020 it was already 28.6%, and currently 30.3%. – It is clear that the glass ceilings are gradually crumbling year by year. Women are becoming more and more brave, increasingly willing to start their own businesses and occupy top management positions. Company shareholders also increasingly appreciate their competences and see that business has no gender. The trend is clear, although it is clear that at this rate we will have to wait a long time to achieve balance in Polish business – says Jerzy Wonka, InfoCredit’s development director. The pandemic has not changed this trend. – This is very good. Women have adapted to the new reality very well, although it was not easy for all of us. Especially in families, where we had to reorganize the work system, take care of relationships not only in business, but above all at home. And additionally cope with the remote learning system of children – adds Jerzy Wonka. How do these data look in comparison to Europe? There is still a lot to do here. In the European Union, women already hold 37% of positions on boards. The highest number in Ireland (63%), Finland (59%), Portugal (53%) and Sweden (50%). The smallest numbers are in Denmark and Lithuania (22%), Greece (23%) and Malta (24%). Women are also gradually increasing their number in the positions of CEOs of Polish companies, although this is happening more slowly. In 2017, they made up 19.2%, in May this year 22.5%, and the largest increase occurred in the spring of 2018 (to 21.4%). Geography does not tell the whole story It would seem that the largest number of women in management boards is in Mazovia. Large cities, including Warsaw, are usually the most open. They also offer the largest number of business opportunities, because that is where the largest number of businesses are registered. However, we forget that Warsaw is an enclave in this respect and does not reflect what is happening in the entire province. Mazovia is at the… bottom of the regional rankings of women in business in terms of the percentage share of management boards (29%). Although there are definitely the largest number of women in management boards in Poland, because they occupy 90,596 such positions. Men as many as 225,342. However, the largest number of businesses in Poland has definitely been registered in Mazovia. Women have the largest share in the boards of Polish companies in the following provinces: Warmińsko-Mazurskie (35 percent, 10,651 women, 19,709 men), Łódzkie (34 percent, 21,128 women vs. 41,901 men), Lubuskie (32 percent, 8,158 women, 17,043 men) and Zachodniopomorskie (32 percent, 14,962 women and 31,287 men). The smallest, apart from Mazovia, in Podkarpackie (29 percent, 13,808 women, 33,320 men) and Wielkopolskie (29 percent, 35,032 women, 84,602 men). Share according to PKD We also checked the division of positions in the boards of Polish companies according to PKD. The highest percentage of women is in the category of social assistance without accommodation (60%), legal, accounting and tax consultancy (51%) and other individual service activities (50%). The lowest in the category of hard coal and lignite mining (13%), metal ore mining (12%) and … public administration and national defense; mandatory social security (6%). Kobiety w zarządach polskich spółek zarządy prezesi 2017 24,4% 19,2% 2018 24,6% 21,4% 2019 24,7% 21,4% 2020 28,6% 21,9% 2021 30,3% 22,5% Źródło: InfoCredit Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl