Poland’s growing prosperity is creating many opportunities for businesses that take the time to understand the market and work within the accepted business and cultural norms of the country. Among the points that an executive need to note while planning for business in Poland, the more pertinent ones include:
- appointing a local representative to help navigate Poland’s legal system – and often to act as an interpreter
- understanding the Polish business culture
- choosing terms of payment that balance security with competitiveness and
- factoring in the average disposable income of Polish households, which is lower than that of Western Europe and the USA.
Businesses should also keep in mind that online shopping is developing rapidly in Poland and, with its population of 38 million, this creates yet more sales channels for foreign suppliers.
Poland, one of Europe’s fastest growing economies, holds many opportunities for foreign companies – provided that they ‘do their homework’ first. As the report points out, its strategic location at the heart of Europe, political stability and economic prosperity make it an attractive destination for foreign trading partners. As a major beneficiary of EU funding, Poland’s investment in infrastructure, environmental and technology projects provides real openings for foreign suppliers, as does the demand for foreign goods from Poland’s increasingly affluent consumers.
Foreign exporters can also build profitable relationships with companies based in Poland’s many Special Economic Zones, which now challenge China and India as a leading outsourcing hub.
From: Atradius Group