Bank Pekao SA’s latest report about micro, small and medium-sized enterprises in 2021-2022 shows moderate optimism. Entrepreneurs assess the state of the Polish economy and the situation in their industry better than in 2020.

Magdalena Zmitrowicz, Vice President of the Management Board of Bank Pekao, points out that 33 % of GDP and 55 % of value added are created by micro, small and medium-sized enterprises (SMEs), and 68 % of employees are employed in the SME sector.

Bank Pekao SA’s annual report reveals key issues: the mood of the economy, the mood of companies, the outlook for employment, investment and the implementation of innovation.

The overall SME Confidence Index (GCI) measuring business sentiment was 93.9 points, higher than in 2020. (91.4 points) even though 2021 and the beginning of 2022 were a series of problems faced by companies.

The report shows that 70 % of companies appreciate firstly that they have survived the period of pandemics and lockdowns, and secondly that they have benefited from aid programmes.

The report shows that the Polish economy is striving to be an innovative economy. “Polish entrepreneurs are fighting to survive, to maintain employment and for innovation to support their further development, to reach new markets, to gain what will be a competitive advantage for them”, says Dominika Byrska, director of the Office of Credit Products and Processes at Bank Pekao S.A.

However, the overall business climate index for 2021-2022 is still not only below the record high of 102 points in 2019, but also the neutral level (100 points), above which only medium-sized companies with 50 to 249 employees stand out, with an index of 101.6 points. The lowest level of optimism (93.8 points) is presented by owners of micro businesses, employing up to 10 people.

Adrian Andrzejewski