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
A good change in transfer prices
A good change in transfer prices Grzegorz Garbarczyk, InfoCredit On August 25, the Sejm received a draft amendment to the Corporate Income Tax Act (https://sejm.gov.pl/Sejm9.nsf/druk.xsp?nr=2544), which included changes beneficial to taxpayers in the area of preparing transfer pricing documentation for so-called tax haven transactions. The most interesting change for taxpayers is certainly the repeal of Article 11o, paragraphs 1a and 1b of this Act – the effect will be the lack of the obligation to prepare transfer pricing documentation for indirect transactions with tax havens. This obligation arose in a situation where a given taxpayer’s contractor (very often an unrelated entity) made a transaction with an entity from a tax haven (reading the provision literally, even transactions of minimal value). From the very beginning, these provisions were widely criticized – by both taxpayers and tax advisors – as an excessive (and often impossible to fulfill in practice) administrative obligation. One of the arguments was that the provisions did not generate any significant benefit for the State Treasury. In our opinion, there are other, better tools to combat transfers to tax havens than transfer pricing documentation dedicated to transactions with related entities. Incidentally, another beneficial change was introduced for taxpayers, this time those entering into direct transactions with entities from tax havens. Although the obligation to document these transactions remains, the thresholds from which it arises have been significantly raised – PLN 2,500,000 for financial transactions and PLN 500,000 for non-financial transactions. The previous threshold was PLN 100,000 regardless of the type of transaction. This change will certainly result in a significant decrease in the administrative burden on taxpayers by reducing the circle of transactions covered by the obligation to prepare transfer pricing documentation for direct tax haven transactions. To sum up – the current legislative proposals of the Ministry of Finance are most advisable and beneficial for taxpayers. In a word: finally! Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
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