The dairy crisis has led to a deterioration in the industry's financial results. Gross profit in Q1 2023 fell to just PLN 64.8 million from as much as PLN 895 million in the same period of 2022. In turn, net profit fell to PLN 24.6 million in Q1 2023 compared to PLN 783.5 million a year ago. This gives 7 and 3 percent of last year's profits, respectively 📉 The crisis of Polish milk processing plants was caused by record milk purchase prices at the end of last year combined with falling prices in stores...

👉Due to the horrendously high prices of wood sales, companies are shortening the time of production and in some cases closing down 👉The Polish Chamber of Commerce of the Wood Industry (PIGPD) and seven other entities are appealing to the Prime Minister in connection with the crisis. According to the authors of the letter, many smaller companies have no orders at all, which puts them on the brink of bankruptcy. 👉One company from the Olecko commune has filed for bankruptcy as a result, and 260 people have lost their jobs. Industry representatives say that many companies have reduced...

The largest industry organizations have submitted an appeal to the Speaker of the Sejm of the Republic of Poland to continue processing the committee bill on reducing bureaucracy and legal barriers. The reason? Counteracting the crisis in residential construction 🏗 According to data from the Central Statistical Office, 33% fewer constructions were started in the first half of this year than in the same period a year earlier. The number of apartments for which permits were issued also decreased. Compared to the same period a year earlier, the difference is 37.6% 📉 As a result...

👉The Polish catering industry has been facing successive problems for three years - the pandemic, war, inflation and the energy crisis. According to BIG InfoMonitor, its arrears already amount to PLN 800 million and increased by 7% compared to the previous year. This is important because already in 2022, catering was the second sector of the economy in which debt collection activities took place most often - only transport was worse. The Polish Chamber of Gastronomy speaks directly of a crash 📉 👉Increase...

📣 As many as 70% of entrepreneurs believe that a rapid increase in the minimum wage will have a negative impact on the operations of companies - this is the conclusion of a July study conducted by CBM Indicator on behalf of the Lewiatan Confederation. Small companies (73%), but also large (64%) and medium-sized companies (63%) are particularly concerned about the increase in the minimum wage. The advantages of a rapid increase in the minimum wage are noted by 18% of medium-sized companies, 15% of small companies and 14% of large companies 📈💰 83% of entrepreneurs expect a change in the current...

The market for young technology companies has never been so bad⚠Venture capital investments in Poland fell by more than half year-on-year in Q2. We are dealing with a similar downturn in practically all key VC markets, i.e. in the US and Western Europe. In addition, we found ourselves in a period when EU innovation support programs have ended in our country, and new ones have not yet been launched. All this means that in the near future there will be no way out of the huge hole in which the domestic...

👉The chemical industry is seen as an indicator of the state of the global economy. Meanwhile, other giants are slowing down. In June, Lanxess, a chemical group based in Cologne, lowered its full-year profit forecast by 30 percent. 👉Swiss chemical company Clariant followed suit, as did MDax Evonik. Now BASF, the world's largest chemical company based in Germany, has joined the group. As the German daily Handelsblatt emphasizes, the fact that companies...

👉According to GfK research, almost every second Pole can no longer afford to eat out due to excessively high prices. More and more consumers are cutting back on their spending and giving up the conveniences and pleasures that eating out is one of 🍽 This is a huge problem for bar and restaurant owners, who have to deal with a significant increase in the costs of running their business on a daily basis. As many as 67% of restaurateurs see a significant increase in product prices, which means an increase of 12 percentage points year-on-year....

The holiday season has been going on for a dozen or so days now ☀🏖 Hoteliers point out that there is interest from tourists, but... it could be much greater. Occupancy in July reaches around 70%, but in most hotels Poles make up only 25% guests. In addition, financial constraints mean that the greatest interest is enjoyed by either luxury hotels, on which no one saves anything, or aparthotels. In turn, guesthouses and mid-range hotels complain about the lack of customers 🚫 📣 "Tourism after the COVID-19 pandemic...

👉Entrepreneurs who have lost financial liquidity and become insolvent during the pandemic must remember that the deadline for officially declaring bankruptcy is running again for them. 👉According to the provisions of bankruptcy law, the entrepreneur is obliged to file a motion to declare bankruptcy in court no later than 30 days from the date on which the basis for declaring bankruptcy occurred. The notification is intended to protect the entrepreneur's creditors and prevent the removal of assets from the company. The obligation...