Poland was the only member of the EU bloc that managed to avoid a downturn in the 2008 financial crisis. While the country has undoubtedly been hit by the global pandemic, by the end of last year, analysts and economic experts noted that Poland's economy hadn't been as hard-hit as was initially expected. Given the current economic uncertainty, it's challenging to predict exactly how - and when - Poland will recover fully. However, as Europe's sixth-largest economy and with a strong track record of economic growth, it may rebound faster than other countries.

By zedraadmin

Whatever’s next for those doing business in Poland, the country undeniably remains an attractive location for international and domestic companies. Poland has strong links with neighbouring countries and a diverse economy with powerful industrial, agricultural, trade and financial sectors.

Polish companies have experienced strong growth over the past few years. Under ‘usual’ circumstances, there is no reason why that would not have continued in 2020. In recent years, Poland has been an attractive location for companies wanting to expand their global footprint as well as domestic companies, an increasing number of which have been setting up in-country. Poland also has a strong track record of producing successful family-run and privately held businesses.

Some businesses managed to do exceptionally well in 2020 and grew significantly, despite economic headwinds. Other companies were harder hit by lockdowns, but we don’t expect this will hamper growth in the long-term. Many of Poland’s many successful companies have rock-solid foundations, practices and operations, and are led by savvy owners who are well prepared to steer them through economic challenges. In the medium to long-term, we expect to see Polish businesses recover well.

Operating in Poland

While many companies want to take advantage of Poland’s economy, incorporating and managing a business isn’t without its complexities. Accounting, legal requirements, VAT, HR, payroll and tax reporting need to be considered when running a business. For anyone unfamiliar with running a corporate entity, handling business administrative aspects can feel overwhelming.

Expertise is also essential, mainly because getting things wrong can cause delays and difficulties. Undertaking company administration can require in-depth understanding and can be time consuming for anyone who has not had special training or the right experience.

Working with an experienced and trusted team like ZEDRA who can support you with these tasks often brings real peace of mind. Our clients know they can rely on us to handle the administrative burden of running a company.

Business owners and executives can focus wholly on running their company and taking advantage of opportunities, which is what they do best.

If you are considering setting up a company in Poland or already doing business in Poland and would like a second opinion on any aspects of your corporate compliance, contact our Head of Central Europe, Piotr Augustyniak.

More information on ZEDRA Poland’s services can be found here.

For more information, please contact