In 2021, Polish entrepreneurs were quite optimistic about the planning and implementation of their activities. Eight out of ten of them expect an increase in investments, the Warsaw Business Journal reports. 

Compared to the results of the EIB Investment Survey for 2020 (EIBIS 2020), outlays on investments in fixed assets have increased by nearly 50 per cent in 2021 (vs. 45 per cent by 2020). This percentage is close to the EU average (50 per cent).

Nevertheless, Poland remains one of the countries with the lowest level of investments in intangible assets among the EU. The COVID-19 pandemic has hit corporate sales, with as many as 42 per cent of businesses experiencing a decline in sales. In other words, it is twice as much as the companies that recorded an increase (22 per cent).

The coronavirus also had an impact on investment plans, as a third of companies reduced their investment plans and only 3 per cent of companies increased their investments during the most difficult period.

When asked about short-term COVID-19 activities, entrepreneurs emphasised the importance of digitisation, and a third of companies confirmed that they had invested in digital solutions. 

In the meantime, Poland is observing an improvement regarding conditions of access to financing. Only 8 per cent of companies feel limited access to financing, which is a better result compared to EIBIS 2020 (12 per cent). It is worth mentioning that this figure is below 10 per cent for the first time in the history of the survey.

In turn, security requirements (9 per cent) remain the main reason for dissatisfaction among the surveyed companies. Other than that, most of them using external financing reported being satisfied with the conditions that have been offered to them. 

Cover photo: Unsplash

Author: Sebastien Meuwissen