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Entrepreneurship in Poland Ministry of Entrepreneurship and Technology ENTREPRENEURSHIP IN POLAND Warsaw, September 2018 1 Prepared by: Ministry of Entrepreneurship and Technology Economic Analyses Department with the cooperation of: Department of Innovation; Department of Small and Medium Enterprises; Department of Trade and International Cooperation; Investment Development Department; Department of Improving Economic Regulations. 2 Nowadays entrepreneurs are at the spearhead in creating the economic reality. It is entrepreneurs - employers, employees and attitudes presented by them - which create welfare of the country. Their creativity, adaptability or readiness to take risk cause that they boldly implement ideas for their own business, while our economy receives a measurable developmental impulse. An entrepreneurial attitude allows for the development despite of barriers which are often encountered by entrepreneurs. This does not exempt policymakers from creating better and better conditions for conducting economic activity. Last year was characterised by many regulatory changes, earlier announced in the government Strategy for Responsible Development. Problems in economic activity were identified through consultations with business organisations. They were addressed, inter alia, in the facilitation package for entrepreneurs “100 changes for enterprises”. Relieving the entrepreneurs of many unnecessary administrative burdens, strengthening their position in the control proceedings or favourable changes in interpretation are measurable savings for enterprises and citizens. The flagship legislative initiative, i.e. the “Constitution for business” is the largest commercial law reform after 1989, strengthening rights and guarantees of entrepreneurs. It gives hope for establishing more partnership relations between entrepreneurs and public administration. The improvement of framework conditions is beneficial to limiting the perceived risk. Thus, it creates a room for broader involvement in development processes, including innovative ones. I believe that dedicated support instruments will additionally promote innovative attitudes of enterprises. We have high hopes for the so-called second Innovativeness Act which, inter alia, significantly increases the amount of a tax relief for business R&D activities. The Start in Poland programme supports one of key target groups – young, innovative enterprises. In the contemporary world it is them who provide an impetus for creating and using innovative, often breakthrough solutions. Furthermore, we support inventors, the example of which is the Programme Good Idea targeted at the authors of innovative solutions, applying as natural persons. Giving You this report I believe that openness to opinions and signals from entrepreneurs is a precondition for success of entrepreneurship policy. The presented examples of measures in the legislative sphere show that this is possible and necessary in every respect. 3 4 TABLE OF CONTENTS INTRODUCTION ........................................................................................................................................................................ 7 SYNTHESIS ............................................................................................................................................................................... 8 STRATEGIC CONTEXT .......................................................................................................................................................... 10 1. MACROECONOMIC CONDITIONS IN 2017 ................................................................................................................ 13 1.1 GLOBAL MACROECONOMIC CONDITIONS IN 2017 ..................................................................................................... 13 1.1.1 GENERAL SITUATION OF THE GLOBAL ECONOMY ...................................................................................................... 13 1.1.2 GLOBAL MERCHANDISE TRADE ............................................................................................................................... 14 1.1.3 PROSPECTS FOR THE DEVELOPMENT OF GLOBAL TRADE IN 2018 ............................................................................. 16 1.1.4 GLOBAL PUBLIC FINANCE ....................................................................................................................................... 17 1.2 MACROECONOMIC SITUATION IN POLAND IN 2017 ................................................................................................... 18 1.2.1 ECONOMIC GROWTH AND ITS DRIVERS .................................................................................................................... 19 1.2.2 INVESTMENTS ....................................................................................................................................................... 20 1.2.3 FOREIGN TRADE .................................................................................................................................................... 21 1.2.4 LABOUR MARKET AND LABOUR COSTS .................................................................................................................... 22 1.2.5 INFLATION AND MONETARY POLICY ......................................................................................................................... 24 2. CHARACTERISTICS OF POLISH ENTERPRISES ...................................................................................................... 25 2.1 DEMOGRAPHY OF POLISH ENTERPRISES ................................................................................................................. 25 2.2 POLISH ENTERPRISES IN THE CONTEXT OF THE SMALL BUSINESS ACT ...................................................................... 31 2.3 ECONOMIC AND FINANCIAL SITUATION OF ENTERPRISES IN 2017 .............................................................................. 34 2.4 ANALYSIS OF THE SECTOR OF MICROENTERPRISES IN 2016 ..................................................................................... 38 2.5 STRUCTURAL CHANGE – A SECTORAL APPROACH .................................................................................................... 38 3. DEVELOPMENT PROCESSES IN ENTERPRISES ..................................................................................................... 41 3.1 INNOVATION AND TECHNOLOGICAL DEVELOPMENT ................................................................................................... 42 3.2 INTERNATIONALISATION OF OPERATIONS ................................................................................................................ 57 3.3 COOPERATION OF ENTERPRISES WITHIN SPECIAL ECONOMIC ZONES AND CLUSTERS ............................................... 66 3.4 BARRIERS TO BUSINESS ACTIVITY ........................................................................................................................... 69 4. INSTITUTIONAL ENVIRONMENT OF ENTERPRISES ................................................................................................ 76 4.1 INSTITUTIONAL AND LEGAL ENVIRONMENT ............................................................................................................... 77 4.2 FINANCING BUSINESS ACTIVITY .............................................................................................................................. 91 5. COMPETITIVE POSITION OF THE POLISH ECONOMY .......................................................................................... 101 5.1 INTERNATIONAL COMPETITIVENESS RANKINGS ...................................................................................................... 101 5.2 POLAND COMPARED TO OTHER EU MEMBER STATES ............................................................................................ 105 ANNEX I - STATISTICAL TABLES - DATA ON ENTERPRISES ......................................................................................... 107 ANNEX II IMPLEMENTATION OF THE SMALL BUSINESS ACT IN POLAND IN 2017 ..................................................... 115 5 6 INTRODUCTION This year’s report is the 16th edition of the cyclical study prepared in the Ministry of Entrepreneurship and Technology. The purpose of this document is to comprehensively depict the situation of enterprises in Poland. It shows conditions for operation of enterprises, with special reference to SME sector, against a background of the global and national macroeconomic situation. The provided information mostly concerns 2017 and changes which have taken place in the institutional environment since the previous report was presented. In general, in 2017 the macroeconomic environment promoted the development of enterprises. Economic growth at the level of 4.6% has been the highest since 2007. It was primarily driven by consumption. Acceleration in investments in the second half of 2017 allowed for their real growth by 3.4% during the whole year. After a significant slowdown in foreign trade in 2016 the last year brought the increase in the Polish exports by almost 12%. In such macroeconomic conditions performance of enterprises improved. Revenues from overall activity, financial results and profitability indicators rose. The number of persons employed and average employment increased. After a decline in 2016 the increase in investment expenditure was recorded. Growing number of registered companies, including in particular commercial companies (by about 7%) in the
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