Vibrant Polish market explained in our new Doing Business Guide
24 January 2017
Posted by: IOE News
The newest addition to the Institute’s dynamic Doing Business Guide series advises and assists UK companies who are interested in exporting to and investing in the growing Polish market.
Poland has enjoyed uninterrupted growth since 1992. Key drivers include corporate investment, private consumption and exports – leading to an historic trade surplus in 2015.
Longer term, Poland will reach the highest average growth rate among all big EU economies until 2050 and will also overtake Russia in terms of long-term growth rate.
According to PwC, the economy is forecast to grow around 3% per annum until 2030 and 2.5% per annum until 2050.
In its latest report (2015-16), the World Bank ranked Poland as the 24th easiest country in which to do business. There are clearly many historical, political and emotional reasons why there are such strong ties between Poland and the UK – but there are many economic reasons why investing there makes sense too.
Poland is also the largest recipient of EU structural and cohesion funds, with €82.5 billion budgeted during 2014-2020. This will help maintain it as a market offering growth, stability and good prospects for UK business. Current plans are to use funds to support continued infrastructure development, including improving internet access and developing smart cities.
Further important growth sectors include cybersecurity and software for mobile applications, consumer goods, and automotive products. The wide availability of flights between all parts of the UK and Poland make it easy for UK companies to visit and meet with prospective customers.
Personal contact with the customer is critical in the Polish market as final purchasing decisions typically require a face-to-face meeting. Success in this market often requires an in-country presence, such as an agent, distributor or representative office – although the Institute of Export & International Trade is always ready to help businesses meet any exporting challenges they may come across.
Doing Business in Poland is available to download on the website http://www.poland.doingbusinessguide.co.uk/ or you can download an app (from both the Apple App Store and Google Play Store). Alternatively, you can order a free full colour hard copy brochure here.
You can be sure that you will be received warmly as Poles make every effort to be good hosts. Polish people are very open and friendly and take a great deal of pride in providing hospitality to their visitors. They have a saying: “A guest at home is God at home”.
Good luck or “Powodzenia!” as they say in Poland – but note that according to an old Polish superstition, answering “thanks” will bring bad luck.
Five essential facts to know about Poland:
1. Poland is the largest market among the former Eastern Bloc countries of Central Europe and can be a gateway to the emerging markets of Eastern Europe.
2. Benefits for UK businesses exporting to Poland include a huge domestic market with over 38 million consumers.
3. The EU has allocated €82.5 billion to Poland through the structural and cohesion fund programme.
4. There are over 300 flights a week between UK and Poland.
5. Poland is expected to continue growing faster than the economies of Western Europe until at least 2030.
You can check out the wealth of global export advice offered by the Doing Business Guide series here.