Due to its robust economy, geographical position, and fast-paced business environment, Poland presents many opportunities for individuals aiming to establish or expand their business ventures.
Poland's manufacturing sector is a strong player in various industries, including electronics, machinery, and furniture. Among these, the automotive industry stands out as a major force. Poland holds a significant position in the production of vehicles, automotive components, and related services. With a revenue of approximately 34.9 billion EUR, the automotive industry in Poland contributes significantly to the country's economy (RSM). Additionally, Poland's advantageous geographic location at the intersection of major trade routes provides convenient access to European markets.
Poland has a significant amount of arable land, making it favourable for agricultural activities, and has about 1.4 million farms spread across the country. The agriculture industry in Poland is primarily focused on several key sectors, including dairy farming, cereal cultivation, pig farming, poultry production, and horticulture. EU membership provided access to Common Agricultural Policy (CAP) subsidies, which have supported the modernization and development of Polish agriculture (Farm Europe).Investors starting an agricultural business in Poland can benefit from favourable tax laws, which support even small-scale ventures, and the advantage of relatively lower labor costs compared to other EU countries.
The energy industry in Poland holds an important position, with the country emerging as a major player in electricity generation, coal mining, and renewable energy. The country is a significant coal producer in Europe, second only to Germany. While producing small amounts of crude oil and natural gas, it relies on imports for most of its petroleum and natural gas needs. In terms of energy consumption, coal accounts for 45%, followed by petroleum and other liquids at 31%, natural gas at 17%, and renewable energy sources at 7%. Poland is working to decrease its reliance on Russian energy imports and align its energy policy with EU regulations (U.S. Energy Information Administration).
IT industry in Poland
Another key industry is Information Technology (IT), where Poland has gained a strong reputation for software development, IT consulting, and outsourcing services.
IT Outsourcing represents the most significant segment in the realm of IT Services, with an estimated market size of approximately US$2.56 billion anticipated in 2023. (Statista.com).
Cities like Warsaw, Krakow, Wroclaw, and Poznan are the most popular locations for IT startups in Poland.
Other Industries in Poland
Poland offers a range of other thriving industries that contribute to its economy. The Polish food sector, for example, ranks as Europe's 6th largest market, achieving record-breaking agri-food exports of EUR 38,2 billion in 2021, with a significant share going to EU countries.
In addition, the pharmaceutical and biotechnology industries in Poland experienced a notable 11% increase in exports in 2019, outpacing the overall growth rate of Polish exports. According to GUS, the pharmaceutical industry takes the lead in product innovation, surpassing the production of computers, electronic, and optical products. These achievements further underscore Poland's diverse offerings, growth potential, and innovation across various sectors. (PAIH). Overall, Poland offers a favourable environment for entrepreneurs to begin their businesses. Situated in the heart of Europe, it provides convenient access to a wide market and international trade opportunities. Notably, industries such as manufacturing and Information Technology are experiencing rapid growth, presenting opportunities for both local and foreign entrepreneurs.
If you're thinking about starting your business in Poland, we'd love to hear from you! Reach out to the Spondeo team, and we'll be more than happy to assist you. Our expertise lies in market research, finding the perfect business partners, organizing kick-off projects, and providing a range of other services to help you get your business up and running in Poland.