Polish Market – A Business Guide

Poland is one of the few countries in Europe that have been growing uninterruptedly since 1992. One of the key drivers of this growth has been corporate investment, exports, and a trade surplus. Many experts believe that Poland is a great country to invest in and start a business because it has some excellent future potential for growth as compared to developed economies like the UK. The Economy is expected to grow at a steady 2.5% on average through 2030 and beyond.

The World Bank has also seen Poland as favorable, ranking it no. 24 as the easiest country to do business in 2015-2016. Also, it is hard to ignore the fact that Poland has excellent ties to the UK for economic and historical reasons. That means that Polish businesses benefit from that relationship with better tariffs, access to the UK market and the fact that the local population speaks English especially by the younger generation. Poland is also a dynamic and excellent gateway to other developing or emerging markets across Eastern Europe.

UK businesses will, in particular, find Poland very favorable after the EU allocated €82.5 billion to the country for its structural and cohesion fund program. The goal is to help keep Poland lucrative as a market which in turn offers stability, growth and improved prospects for UK based businesses.

Business Ethics and Practices in Poland

Doing business in Poland is all about developing interpersonal relationships. Poland is one of those places where clients, partners, and even buyers don’t trust people they can’t see, touch and listen to. That’s why it is essential to plan to invest time and effort into getting to know the people you’re doing business with in Poland.

Sine oral communication is imperative; good verbal skills ideally in the native language are preferred. Written inquiries that are not in the local language are either put off or never considered. However, foreign businesspeople can overcome this hurdle by scheduling one-on-one meetings.

Punctuality is Serious Business

Foreigners need to make sure that they always deliver on time and meet on time. Sometimes Polish professionals can be late but they often call in to notify their counterparts. If you are arriving in Poland for business, make sure to call and schedule all your meetings in advance. But leave enough room for meetings to extend beyond their agenda which can take more than the scheduled time.

Making First Contact and Language Preferences

Many polish businesspeople are wary of meeting professionals they don’t know. So, initial contact has to be made through a third party to establish trust. That’s why unlike other countries like the US, where business is conducted over the phone or via email, Poland is where you’ll need to meet in person.

Knowing the local language or having a translator on hand can make all parties feel comfortable. Even though English is spoken, they prefer to speak in their native language. The same goes for paying heed to advertising, marketing, and business proposals, all of which should be in the native language to be effective.