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More than 80 percent of investment in the development of Polish start-ups is state-funded. The reason for this is the still underdeveloped private-funds market. The Polish market for high-risk start-ups is slowly catching up with the world in professionalism. About 10-20 percent of venture-capital funds in Poland can already be considered as top-performing funds. However, the percentage of those that aren’t working well is still too high.

Business angels are increasingly active in Poland. According to the Startup Poland foundation, 33 percent of Polish start-ups took advantage of the services of domestic and foreign business angels. The EBAN data shows that the three most frequently chosen industries are technology, ICT and healthcare. The Vice-President of the largest European organisation of business angels believes that the next five years will be promising for the whole CEE region, and Poland will be the first choice among investment locations.

“In Poland there is a need for providing financing not only to small start-ups but also to larger projects, which require the involvement of greater sums of money,” said Krzysztof Domarecki, Founder of the Fidiasz investment fund. According to one of the richest Poles and the man behind the success of the Selena group, investors should apply more stringent criteria to the projects they support. One should search for the first Polish unicorn among fintech or e-commerce companies; however, in the longer term, it can also be found in industry or biotechnology.

The earnings of women working in the same positions as men are lower, they are less willing to start their own companies and less often perform managerial roles. This is a global problem faced by the largest world economies. In Poland, despite the fact that managerial positions are in 40% occupied by women, their earnings are much lower than those of men. Together with the spreading popularity and significance of start-ups, it is easier for women to enter the labour market and find their way to sectors which previously were considered to be typically male. This is facilitated by the numerous competitions organised for women’s start-ups and a growing number of women performing the roles of business angels.

Last year the customers of Polish banks made nearly 1.8 bn transfers to a total of PLN 4.7 bn – states the NetB@nk Report by the Polish Bank Association. Among banking services, it is the popularity of instant transfers which is enjoying the fastest growth, with 80 percent more such transfers made in 2017 than in the year before. At the same time the number of ATM cash withdrawals and of ATMs themselves are decreasing. This is accompanied by Poles’ becoming more positive about internet banking.

Criticising the Government's purchase of works of art from the Princes Czartoryski Foundation is not favourable for Poland’s international reputation, experts of the Staszic Institute emphasised. The dispute over the legitimacy of the transaction reignited when it turned out that the money went to the bank account of a newly established foundation in Liechtenstein, and that the family conflict in the aristocratic family will find its way to court. According to the experts of the Staszic Institute, the purchase was necessary and the price was very reasonable, whereas the issue of what the seller does with the money from the transaction is not anybody else's concern.

According to Michał Stępniewski, this trend on the Polish stock exchange, which has been noticeable for at least two years, is a disturbing one. The difficult situation of the Warsaw Stock Exchange was caused by very low turnover, which has arisen from insufficient activity of investors in financial and commodity markets. Education is indispensable for boosting the Polish stock exchange, because, as experts say,Poles’ awareness of capital markets is still low.

With a nearly 16-percent growth, last year was very successful for the leasing sector. The greatest boost could be observed in the segment of light passenger and delivery vehicles as well as in machinery and equipment. The latter segment has also continued to grow at a fast pace since the start of 2018. During the first half of this year we may expect these figures to go up by as much as 20 percent, as assessed by the BZ WBK Leasing experts. This can be attributed to the increased volume of investments made by businesses.

One of the effects of the banking sector consolidation in Poland is that banks are becoming more and more specialised. In the field of mortgage loans institutions are appearing which manage such loan portfolios. And while these institutions are not aggressively fighting for new customers, the example of BPH, a pioneer in this segment, shows that such operations can create new business opportunities. The Bank, whose spinned-off part was taken over in 2016 by Alior, had to build a new business model virtually from scratch. It has based a large part of its new operations on outsourcing.

The proposed changes in claims-limitation legislation will provide greater protection for debtors. Experts are warning that some fraudulent consumers might take advantage of this, as they would have more tools to avoid repaying overdue debt. These changes might have serious market implications. Most probably, they will affect claims management companies, businesses with overdue claims from clients and consumers themselves, as some financial products will be harder to get and more expensive, experts from the Conference of Financial Companies in Poland argue.

The sources of financing start-ups have changed considerably over the last few years. The accessibility of EU funding via national institutions is growing. Venture capital funds are also gaining in importance. A relatively new form of financial support is equity crowdfunding. This year, limits for obtaining funds under this model have been increased to as much as EUR 1 m. Poland and eastern-European markets are becoming more attractive for investors.

The development of private equity funds in Poland is gaining momentum. In 2017, the value of investments on our market reached nearly EUR 7 bn. But compared to developed markets we’re still going through the stage of early growth, says Michał Staszkiewicz, Vice-President of the Management Board, Private Equity Managers and MCI Capital TFI. The funds, which invest in private companies, are a good alternative to low-interest deposits and to the volatile stock market. They are more resistant to economic fluctuations, and they rely on long-term strategies and diversified portfolios. But this form of investing is not for everyone.

In March inflation was only 1.3 percent in annual terms and it was the slowest increase since December 2016 – the first month to have recorded an increase after 2.5 years of deflation. Such low figures are so surprising that they might even be incorrect, claimed Piotr Kuczyński, CAO at Xelion. But there is no risk of going back to deflation. The continuing slight increases in prices are delaying increases in interest rates.

Poland has been the European leader in window exports for three years. DOVISTA Polska, which belongs to the same capital group as the roof window producer VELUX, has just finished an expansion project, which is going to boost its position as a producer and exporter. The company invested PLN 22 m in the new 11,000 sq. m distribution centre. This project will help the company increase its production by 10-15 percent this year and create 100 new jobs. The factory in Wędkowy is the largest facility manufacturing wooden windows in Poland and one of the biggest employers in Pomerania.

Polish people consider their knowledge of finances to be considerable, and the areas in which they feel they have the largest gaps are cybersecurity and the tax system, a study by the Warsaw Institute of Banking entitled “Financial Education among Polish People 2018” finds. The most favourable assessments of their knowledge were given by young, high-earning people who lived in large cities. Critical opinions were expressed on the formal education regarding finances.