On November 23, the RSM experts together with BiTS Business and Information Technology School published a report on the second research on the balanced competition of business entities in Europe and the world, as well as their capacity to adapt to and counteract against economic shocks. The RSM Business Resilience Survey took place in July and August 2015, with 410 RSM auditors and consultants, as well as nearly 300 entrepreneurs from Europe and the world participating.
The RSM Business Resilience Survey Report presents the specificity of worldwide economies from the perspective of their capabilities of tackling critical situations. It is supposed to provide an easier answer to the question: do the economic structure of a given country, the resources gathered, competence and business culture help overcome potential critical situations, can they be the catalyst for the economic shocks?
As far as Poland is concerned, the significant economic growth, which according to the prognoses of the European Commission will amount to 3.4% in 2016, has a strong influence on the economic stability of the country. Thanks to a high growth dynamics as well as a significantly lower – in comparison with other highly industrial economies – production costs, Poland is still on the top as an attractive investment market. The trust and belief in the potential of the Polish market lay a sound basis for the development of subsequent business projects.
The results of the RSM Business Resilience Survey, conducted among the representatives of leading business on the Polish market confirm that domestic entrepreneurs are proactive and facilitate the needs of their clients. They seem to notice the developmental opportunities in focusing on the quality of provided services and manufactured products, instead of treating the maximum cost reduction as a priority. The opinion of the entrepreneurs reflected in the survey seems unanimous – Polish economy should improve the effectiveness of implementing innovative solutions on a massive scale.
Henceforth, can the Polish economy deal with the critical situations?
“A certain answer to this question was provided by a political crisis in Ukraine and its economic consequences resulting from sanctions imposed, among others, on our country by the Russian Federation. Not only Polish agriculture, but also other branches that export their products to Russia were capable of finding alternative output markets for their products. Due to the undertaken actions, not only did their export income not fall, but it emerged that they were in fact higher than in previous years,” said Dawid Stolarek, Corporate Finance Manager at RSM Poland. “This fact can confirm that the Polish economy is prepared for the economic shocks quite well, which also translates in the growing trust as to its condition in the future.”