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
Small business is getting ready for the season
Small business is getting ready for the season InfoCredit Microenterprise Index In April, there was still a visible recovery in economic activity, which began at the end of the first quarter. In the past month, 25.9 thousand new economic activities were registered, compared to 26.2 thousand in March 2021 and… 10.2 thousand in April 2020 – according to CEIDG data. In April 2021, we also recorded more resumptions of activity (13.4 thousand compared to 12.5 thousand in March 2021) and fewer suspensions (16.3 thousand compared to 18.7 thousand in March 2021). InfoCredit microenterprise indices went up again strongly after April. The indicator describing the ratio of new to closed activities increased to +11,770 points from +10,171 points after March, and the ratio of resumed to suspended increased to -2,977 from -6,133 points. Since March, there has been a greater propensity to start and resume business activities. These may not be record values, as in the best months of last year, but it is clear that we are in a completely different situation than in April 2020. A year ago, small businesses were digging in, trying to cope with the restrictions resulting from the epidemic. Today, they are waiting for easing and trying to adapt to the opportunities that appear on the horizon. – April and early May brought entrepreneurs hope for a return to normality. The catering and hotel industries were waiting for the restrictions to be lifted and were slowly preparing to welcome guests. Poles, in turn, finally started planning trips and vacations. This encouraged the seasonal suspension of business activities. We hope that this trend will continue. However, this will depend on the decline in the number of cases and the pace of vaccinations – says Jerzy Wonka, Development Director at InfoCredit. The IC Index, describing the ratio of new to closed businesses, is at its highest since October 2020, when we were just entering the 2nd wave of the epidemic. In turn, the IC Index describing the ratio of reopenings to suspensions is at its highest since the summer of 2020, i.e. the holiday season, when hotels, guesthouses and restaurants could enjoy the season. – With spring, hope returned for doing business in industries that were most affected by the epidemic. Especially since Poles want to use hotels and restaurants, the possibility of active recreation. The macro data that is coming in is quite optimistic. The first quarter of this year was rather the last in which we experienced a decline in GDP. Unemployment is relatively low, and wages in the corporate sector rose significantly in April. Although we feel inflation, interest rates are at record lows. This encourages consumption – adds Jerzy Wonka. In his opinion, the only threat that has appeared on the horizon for entrepreneurs is the New Deal. Small businesses are currently analyzing how the burden will increase with the estimated revenues in the coming months. – I am afraid that this may affect entrepreneurs’ decisions on the choice of the form of business activity – 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 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 completed – negative. 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
Thaw in micro-enterprises
Thaw in micro-enterprises InfoCredit Microenterprise Index After several months of stagnation, the number of new business activities in March 2021 increased to 26,229 from 21,285 in February (23,835 in January this year). In March 2020, 18,291 were recorded – according to data flowing into CEIDG.The entire first quarter of 2021 in business activities – thanks to a fairly good March – also looks promising. There were more new activities than a year ago. We also recorded significantly fewer suspensions (61,281 in Q1 2021 compared to 94,861 a year earlier). InfoCredit microenterprise indices went up significantly after March. The indicator describing the ratio of new to closed activities increasedto +10,171 points from +7,678, and the ratio of resumed to suspended increased to-6,133 points from -8,197 points. The last month of Q1 2021 significantly changed the picture of micro-entrepreneurship that had been emerging since the autumn of last year. Poles were more willing to start new businesses, and there were significantly more resumptions month-on-month (m/m) and year-on-year (y/y). Suspensions remained unchanged m/m and significantly decreased y/y. What does this mean? – The March data is quite optimistic, but it is difficult to talk about a change in trend, considering the circumstances, i.e. the third wave of the epidemic. On the one hand, small businesses are certainly gradually adapting to the new reality. I do not want to say that it is becoming ordinary. Entrepreneurs are increasingly aware that things will not be the same as before COVID and are more and more willing to make strategic decisions. On the other hand, caution is still visible. That is why in March we have not yet noted any major positive changes, although it should be emphasized that there has not been such panic in suspensions as last year for 11 months – says Jerzy Wonka, Development Director at InfoCredit. Let us recall – last year, the end of the first quarter brought a wave of suspensions of activities due to the first restrictions and growing uncertainty. In March 2020 alone, 48,624 activities were suspended, and 28,432 in the last 10 days alone. Meanwhile, in the whole of March 2021, we recorded 18,652 suspensions. – It is also encouraging that in the entire first quarter we recorded 71,349 new businesses, compared to 69,517 a year earlier. The number of closures and reopenings is comparable. There are significantly fewer suspensions than a year ago. And this is not the effect of pushing full-time employees into business activity, taking into account the latest preliminary data from the labor market. The unemployment rate in March was 6.4% and was slightly lower than in February. However, we will be able to get a full picture of what is happening in microentrepreneurship after the second quarter of 2021, when the data will be relatively comparable. We will be able to compare the entire 3 months of the 2021 epidemic with the entire 3 months of the 2020 epidemic – adds Jerzy Wonka. How do we calculate the InfoCredit Index? The InfoCredit Index was created to track trends in microentrepreneurship, alternative forms of employment and self-employment at a time when the situation on the labor market 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, it is negative. In the same way, we track the ratio of resumed to suspended businesses. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Business has chosen a waiting tactic
Business has chosen a waiting tactic InfoCredit Microenterprise Index In February 2021, 21.3 thousand businesses were established, 13.6 thousand were closed. Almost 10 thousand were resumed and 18.2 thousand were suspended. In the same period last year, the figures were 23.4 thousand (new), 13.1 (closed), 11.7 (resumed) and 19 thousand (suspended), respectively – according to CEDIG data. The advantage of suspending over unsuspending in February 2021 continues to fall. The InfoCredit index increased from -15,816 points after January to -8,197 points currently. There were 7,678 more new businesses than those closed. This means another monthly increase in the index describing the ratio of new to completed businesses from 6,093 points after January and from 1,306 points in December 2020. There would be nothing alarming in the February data, if not for the fact that fewer and fewer applications are being submitted to CEIDG (excluding those for minor changes in entries). In February 2021, CEIDG received a total of 63,000 of them, compared to 67.2 thousand a year earlier. So there are still not only fewer new and suspended businesses, but also fewer closed and suspended businesses. Business has dug in and is waiting for better times. This applies not only to small businesses, but also to companies registered in the National Court Register. This is clearly visible in the year-on-year comparison. All the more so because February 2020, as a reference point, was the last month of relative “normality” and fairly good economic conditions before the outbreak of the epidemic. What next? Of course, it depends on how the situation develops, further restrictions and consumer sentiment. The number of applications submitted to CEIDG is decreasing month by month. A similar phenomenon is beginning to be visible in the REGON register, where in February the number of newly registered entities dropped by 5.5% to 27,126 counted m/m (GUS data). When it comes to business entities, this trend was already visible last year. In 2020, 311.8 thousand entities were registered, compared to 355.8 in 2019. In the second quarter of 2020, when the epidemic was gaining momentum, 64.4 thousand were registered. entities compared to 94.4 in the same period of 2019. In the fourth quarter, when it was gaining momentum again, 75.9 thousand were registered, compared to 78.3 thousand a year earlier. Interestingly, the number of bankruptcies is also falling significantly. – This means that Polish business is falling into a state of lethargy. We have already become accustomed to the fact that the situation is changing rapidly and new decisions have to be made from day to day. We are not sure whether tomorrow will bring tightening or easing of restrictions. This is not conducive to bold decisions and registration of new businesses. And this is both in the form of activity, which is very flexible, but also in opening new commercial law entities. There are, of course, industries that have benefited from the technological revolution and the increasing interpenetration of real and virtual reality. But there are also those that are in lethargy. By accepting help, they cannot go bankrupt – says Jerzy Wonka, Development Director at InfoCredit. In January, 24 companies declared bankruptcy. This is 19% less month-on-month and as much as 45% less year-on-year. In the fourth quarter of 2020, 106 business entities went bankrupt, compared to 159 in the same period a year earlier. In all of 2020, 528 entities went bankrupt, compared to 578 the previous year. 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 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 ones – a negative value. In the same way, we track the ratio of resumed to suspended businesses. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
More and more women on boards
More and more women on boards Did you know that… Our company was created by women. To this day, the vast majority of our team is women. Dear Ladies, thank you very much. All the best on your day! While we are wishing you well, we would like to present the share of women on the boards of Polish companies in general and just among CEOs. Dear Ladies, there are more and more of you. Congratulations. The data is presented year by year, as of March 8, from 2017 to 2021. Zarządy Prezesi 2017 24,4% 19,2% 2018 24,6% 21,4% 2019 24,7% 21,4% 2020 28,6% 21,9% 2021 29,4% 22,1% Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Fewer and fewer applications to CEIDG
Fewer and fewer applications to CEIDG InfoCredit Microenterprise Index The activity of micro-entrepreneurs continues to decline. In January 2021, CEIDG received a total of 74.7 thousand applications compared to 88.04 thousand a year earlier. The trend that we noted in Q4 2020 is therefore continuing. There are not only fewer new and suspended businesses, but also fewer closed and suspended businesses. In January 2021, 23.4 thousand businesses were established, 17.74 thousand were closed, 8.66 thousand were resumed and 24.5 thousand were suspended. For comparison – in the same period last year, it was 27.84 thousand (new), 21.76 (closed), 11.24 (resumed) and 27.2 thousand (suspended) respectively – according to CEDIG data. The advantage of those suspending over those unsuspending in January 2021 was smaller than in December. The InfoCredit Index rose from -21,834 points to -15,816. There were 6,093 more new businesses than closed ones. This means a significant increase in the index describing the ratio of new to closed businesses from 1,306 points in December. January this year was another month in which CEIDG received fewer applications than a year earlier. And all of them, including those for closing and suspending business. And it has been like this since October 2020. – We are becoming less active. Not only in terms of new businesses, but also those being resumed and closed. Yes, suspensions still clearly outweigh resumptions, or even new ones, but there were fewer of them than a year ago. One of the reasons is undoubtedly the situation in the economy and the crisis, which has hit many industries very hard. It is difficult to expect anyone to open or resume seasonal activities in the tourism or catering industry for the winter, since these were suspended – says Jerzy Wonka, development director at the analytical company InfoCredit. In his opinion, the situation is also complicated by the uncertainty related to whether the epidemic will develop or not. For now, the beginning of February has brought an increase in the number of applications, including those for new businesses, but after a few days the situation returned to normal. – It is difficult to expect micro-entrepreneurship to flourish again in the coming weeks. Especially since the Polish labor market has shown great resistance to the epidemic. Yes, unemployment increased in December, but only to 6.2% from 6.1% in November. A slightly larger increase, according to preliminary data, was recorded in January 2021, to 6.5% (5.5% a year earlier), but the situation is still not bad. Many of us value full-time employment more in uncertain times. Those who wanted to change something in their professional life from the new year and try their hand at entrepreneurship may postpone bold decisions – adds 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 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, it is negative. In the same way, we track the ratio of resumed to suspended businesses. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl
Fewer new businesses than in 2019
Fewer new businesses than in 2019 In 2020, there was less activity than in the previous year In the whole of 2020, 262.9 thousand businesses were established, 146.2 thousand were closed, 163.3 thousand were resumed and 250.1 thousand were suspended. For comparison – in the same period last year, it was 309.9 thousand (new), 173.3 (closed), 160.3 (resumed) and 306.9 thousand (suspended) respectively – according to CEDIG data.In December last year, 1306 more businesses were established than closed. The InfoCredit index recorded a significant drop, but its value remained positive (in November 2020 it was + 7263 points). In the last month of 2020, 19.8 thousand businesses were opened, 18.5 thousand were closed.There were again significantly more people suspending their business in December 2020 than resuming it. The InfoCredit index has thus deepened its decline to -21,834 points. It is the lowest since March 2020, when entrepreneurs, under the influence of uncertainty, began to submit applications for suspension en masse. However, there was no such anxiety as in March. There was also no assault on the CEIDG system. The last weeks of December did not bring a revival in applications submitted to the CEDG. Although as many as 29,905 activities were suspended compared to 8,071 resumed, the situation was similar to the end of 2019. At that time, 10,312 activities were resumed and 37,381 were suspended. The InfoCredit index, describing the ratio of renewals to suspensions at the end of 2019, was worth -27,069 points, which is much lower than after November 2020. Usually, at the end of the year, there are much more suspensions than renewals. Compared to November, we noted a significant increase in business closures. In December 2020, there were 18,514 such applications compared to 11,086 a month earlier. There were almost as many new businesses as a month earlier (19,820 compared to 19,493 in November 2020). This is also a seasonal effect. The end of the year favors suspensions and closures, especially with such uncertainty and restrictions as today. – The last quarter brought a significant drop in activity in submitting applications to CEIDG and this is the only worrying signal from micro-entrepreneurs. This was visible in each category. In the first three quarters of this year, Poles were much more willing to take matters into their own hands. Those who saw their chance started new businesses, and there were much fewer definitely closed businesses than new ones. Those who did not see the chance suspended or closed their businesses. Now they are stuck in limbo waiting for better times – says Jerzy Wonka, Development Director of the analytical company InfoCredit. According to Jerzy Wonka, the second wave of the epidemic and the increase in cases in the autumn could have influenced the decisions of micro-entrepreneurs. For now, when restrictions in many industries are maintained and extended, and revenues are significantly lower, it is difficult to be optimistic and start or suspend a business. Hence – perhaps – the lower number of applications than at the end of 2019. The second issue is the much better situation on the labor market than it might have seemed six months earlier. The registered unemployment rate in December was 6.2% – according to preliminary data from the Ministry of Development, Labor and Technology. At the beginning of 2020, it was 5.5%. The economic collapse did not result in a significant increase in unemployment. – Many people still believe that a full-time job in difficult, unstable times is a better idea than starting a business on your own. This is also the reason why many people could have postponed starting a business in the last quarter of 2020 – adds Jerzy Wonka. How do we calculate the InfoCredit Index? The InfoCredit indicator 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 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 ones – a negative value. In the same way, we track the ratio of resumed to suspended businesses. Previous newsNext news Potrzebujesz wyceny lub zamówienia? Napisz do nas bok@inocredit.pl