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High energy prices and high labor costs are the main obstacles to the development of companies in Poland; 65 percent of them indicated. of medium and large companies surveyed – according to a Grant Thornton report. Its authors added that in the world these barriers were mentioned by the largest number of respondents in India.
As emphasized in the report “Barriers to Business. 2022 Edition” prepared as part of the International Business Report series by Grant Thornton International, the Polish economy has recently been developing at a relatively fast pace. “This development could have been more dynamic, were it not for all kinds of barriers that impede the functioning of institutions” – it was said.
The study notes that currently the biggest barriers to business development in Poland are high electricity costs and high labor-related costs. The report’s authors noted that “65% of medium and large companies surveyed by us claim to be +strong + or + strong + barriers to development”. They added that among other countries surveyed, the percentage of firms citing such barriers is only higher in India (81%). On the other hand, in China and Nigeria, which occupy third and fourth places, respectively, this indicator stands at 64%, and in the United Kingdom, which closes the top five, 63%. And in Sweden, which ranked 30, these barriers were noted by 23%. Threads.
High labor costs, as noted, top Grant Thornton’s hurdle rating for the third year in a row. A year ago, this barrier was flagged at 75 percent. The companies surveyed are in Poland, and two years ago – 68 percent. “The perceived discomfort of this barrier is slightly reduced compared to previous years, but is still relatively high compared to the other barriers examined” – he added.
In the world, the labor cost barrier was also cited in the latest survey as “strong” or “very strong” by: India (78%), which ranks first in this regard; South Korea (69% – second place), USA (66% – third place), China (66% – fourth place). Poland ranks fifth in this ranking. In Sweden (last 30th) 20 per cent.
This year, high energy prices have joined the biggest impediments to corporate development in Poland. “A year ago, the percentage of companies indicating this factor was 55%, which gave them only fifth place in our rating” – it was reported.
Grant Thornton partner Julanta Jakoviak, cited in the report, noted that 60 percent are in the latest study. Entrepreneurs in Poland refer to bureaucracy as a “strong” or “too strong” barrier. “This is the fourth strongest barrier in the ranking,” she noted. She maintained that the study was conducted at the end of 2021 – on the eve of the entry into force of the Polish deal. “Given the confusion that has arisen since the beginning of the year, it now appears that the percentage of companies that indicate this barrier will be even higher” – she assessed.
Compared to the other economies analyzed, this gives Poland fifth place. Before us is India (76%), Great Britain (65%), South Africa (63%) and the United States (62%).
The third largest barrier for companies in Poland was economic uncertainty (61%), the fifth – the lack of qualified personnel (51%), the sixth – the lack of applications (32%), and the seventh – access to finance (27%).
The study for the report was conducted by Dynata on behalf of Grant Thornton International. It was implemented from September to November 2021 among 10,000 owners or board members of medium and large companies in the world, including 200 in Poland.
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