Poland Recognized as One of the Business-Friendly Places by Recent Analytics

Poland as the sixth-largest economy in the EU and the largest in Eastern Europe with Business-Friendly schemes is recognized as one of the most reliable and friendly places for doing business.

The Polish Investment and Trade Agency emphasizes that the country is the CEE regional leader and investors are attracted because it has been among the most economically stable and fastest-growing countries for years. According to the Business-Friendly Reception Index, which is part of the Future of Emerging Europe program, the Polish city of Łódź has been named the most attractive city for business in Central and Eastern Europe, surpassing Prague, Budapest, and even the capital Warsaw. It’s also worth mentioning, that earlier, in 2019, the city had received the highest score in the economic potential category due to business-friendly policies.

The Major Points of Business-Friendly Schemes:

Meanwhile, Startup Poland, the largest independent technology think tank in Central and Eastern Europe, notes that despite the pandemic, the start-up environment in the country is dynamic. According to the Polish Startups 2020 report, 56% of respondents in the latest survey had found new customers and 48% reported better sales.

As for the real estate investment markets, Poland has been one of the most stimulating in the past five years. Despite the momentary disruption caused by the COVID-19 pandemic, the total investment volume in Polish commercial real estate amounted to $8.3 billion in 2020, exceeding the annual values before 2018.

This unusual number was mainly due to the increased international investor appetite for Polish assets. Thanks to its strategic location, and remarkable land, sea and air connectivity, many investors have started to see Poland as a great location for logistics.

Moreover, there is good news on the overall economic front with the Polish economy projected to return to growth in the second quarter of 2021 following a rebound in consumer demand. This will be amplified by the gradual lifting of lockdown restrictions followed by the increased public confidence after Covid-19 vaccinations.

According to the forecast of the National Bank of Poland, gross domestic product (GDP) is likely to expand by 4.1% this year. The consumer and investment demand growth is backed by the assumption that the central bank’s interest rates will remain at the current record level.

Implications for Banking and Business

Developments in the Polish banking sector affect businesses operating in the country in several ways. Access to corporate banking services, credit availability, deposit rates, and payment infrastructure are all critical factors for companies — whether established Polish firms or foreign-owned entities entering the market.

For foreign entrepreneurs setting up operations in Poland, choosing the right banking partner is a strategic decision. Major Polish banks including mBank, ING Bank Śląski, Bank Millennium, PKO BP, and Santander Poland offer varying levels of service for international clients, including English-language online banking, multicurrency accounts, and dedicated relationship managers for corporate clients.

The Polish banking market is well-regulated by the KNF (Financial Supervision Authority) and participates in the EU deposit guarantee scheme (BFG — Bank Guarantee Fund), providing deposit protection up to EUR 100,000 per depositor per institution. This regulatory framework provides stability and confidence for businesses maintaining corporate funds in Polish banks.

If you are doing business in Poland or considering entering the Polish market, Zalewski Consulting can help. Learn more about our corporate tax advisory, or contact us for a free consultation.