Poland's economy is booming – and Ukrainians are helping | DW News

Summary

Poland, now the 20th largest global economy, is an increasingly attractive destination for entrepreneurs, particularly those from Ukraine. With a strong domestic demand, low unemployment, and a structured tax system, the country fosters business growth. Ukrainian founders, who have contributed significantly to Poland's GDP, find a supportive environment for launching and expanding businesses. Examples include PZO Therapy, a mental health startup, and the Boky Group, a manufacturing venture. The influx of Ukrainian entrepreneurs is contributing to Poland's thriving economy, with ventures spanning across tech, hospitality, and beyond.

Takeaways

• 😀 Poland is the 20th largest economy in the world with a projected GDP of 900 billion euros by 2025.
• 😀 The country's strong domestic demand, low unemployment, and structured tax system make it attractive for entrepreneurs, particularly those from Ukraine.
• 😀 Poland is seen as a model for transitioning from a communist to a capitalist society in just one generation.
• 😀 Alexander Bondar, head of PZO Therapy, found the process of opening a company in Poland to be straightforward and efficient.
• 😀 PZO Therapy, an AI-driven mental health platform, moved from London to Warsaw in 2022 and now employs around 70 people.
• 😀 The company has received support from the Google Ukraine Support Fund and other accelerator programs, and it now collaborates with over 500 licensed therapists across Europe.
• 😀 Ukrainians have been involved in businesses in Poland since the late 1990s, contributing around 2.7% of Poland's GDP through businesses, jobs, and investments.
• 😀 More than 90,000 companies in Poland have Ukrainian involvement, with entrepreneurs like Nikolas Nikovski running diverse ventures in sectors like manufacturing and services.
• 😀 Nikovski's Boky Group, a manufacturer of doors and sliding systems, employs nearly 30 people, most of whom are Ukrainian or from other countries.
• 😀 Ukrainian entrepreneurs are increasingly expanding in various sectors in Poland, such as tech, hospitality, and innovative services, playing a significant role in Poland's economic growth.

Q & A

What is Poland's position in the global economy?

Poland is the 20th largest economy in the world, with a projected GDP of 900 billion euros in 2025.

Why is Poland an attractive destination for entrepreneurs?

Poland is attractive to entrepreneurs due to strong domestic demand, low unemployment, a structured tax system, and a rapidly growing market.

What role does Ukraine play in Poland's economy?

Ukrainians contribute around 2.7% of Poland's GDP through businesses, jobs, and investments. Many Ukrainian entrepreneurs have moved to Poland, helping boost the economy.

What challenges do Ukrainian entrepreneurs face in Poland?

One of the main challenges for Ukrainian entrepreneurs in Poland is raising capital, although Poland is seen as one of the better European countries in terms of business opportunities.

How did Ples Therapy begin and expand in Poland?

Ples Therapy, an AI-driven mental health platform, moved from London to Warsaw in 2022. The company received support from the Google Ukraine Support Fund and other accelerator programs, eventually growing to 70 employees, most of whom are based in Poland.

How does Poland support foreign businesses and entrepreneurs?

Poland offers an easy and electronic process for opening businesses, and its government is considered fair and efficient, which makes it an attractive option for entrepreneurs, particularly those from Ukraine.

What impact have Ukrainian entrepreneurs had in Poland's business landscape?

Ukrainian entrepreneurs have made a significant impact in Poland, particularly in sectors like tech, hospitality, and manufacturing. Many have launched successful businesses and contributed to Poland's economic growth.

How many Ukrainian companies are currently operating in Poland?

There are over 90,000 companies in Poland that have Ukrainian involvement, ranging from small startups to larger enterprises.

What other industries are Ukrainian entrepreneurs expanding into in Poland?

In addition to tech and hospitality, Ukrainian entrepreneurs in Poland are also expanding into innovative loan services, beauty salons, and other emerging sectors.

How does the local workforce in Poland look for Ukrainian-run businesses?

Many Ukrainian-run businesses in Poland employ a workforce composed primarily of Ukrainians and other foreign nationals, with only a small percentage of Polish employees.