The Republic of Poland, or simply Poland, is located in Central Europe and is part of the European Union. While the establishment of the Polish state dates back to 966, Poland regained its independence in 1989 and began its journey towards the advanced economy it is today. Poland is the eighth largest and is considered one of the most dynamic economies in the EU. it also has a leading school education system in Europe. Poland offers its citizens free university education, a universal health system and state-funded social security. It is also a member of the Schengen Area, NATO, the OECD and the United Nations.
Poland is considered to be one of the most successful countries in the transition from communism to a market economy. The return of democracy was followed by the liberalization of the economy, the privatization of small and medium-sized state-owned enterprises, and rapid growth of the private sector. Poland is the leading producer and exporter of apple concentrate and one of the leading producers of cabbage, berries and carrots. In addition to agriculture, the most important economic sectors in Poland include coal mining, mechanical engineering and shipbuilding, glass, iron and steel production, as well as food and beverage processing and the textile industry.
An estimated 36% of foreign investment goes into manufacturing. Other attractive sectors for foreign investment in Poland are logistics and transport, financial services, and IT and data transmission. Thanks to the growth of the Polish economy, the real estate market has also attracted the attention of both local and foreign investors.
If you are considering starting a business in Poland and exploring the most beneficial and profitable ideas, below are some of the most attractive sectors with their advantages.
Polish IT and software development company
IT and software development sector in Poland is among the most vital and robust industries with good fundamentals as well as further growth prospects. Polish IT sector is considered to be a leader in the region with the demand for qualifying IT engineers constantly growing. The main reason and at the same time the benefit of setting up an IT business in Poland is its vast human capital – high quality IT engineers.
Poland tends to distinguish itself in terms of IT graduates – approximately 40 thousand young people each year receive a top quality higher education in IT and software development. The high quality of IT education is proven by numerous international programming competitions and rankings, such as Top Coder. Polish IT specialists are demanded not only locally but are also highly demanded abroad. Other benefits of setting up an IT business in Poland are high product quality and low production and workforce costs in comparison to other countries.
These are the main reasons, why such companies as Microsoft, Google, HP and IBM have opened their offices in Poland and other foreign companies are located in all biggest cities of Poland. Currently, two most popular cities for IT businesses are Warsaw and Wroclaw. Although some of the world’s biggest technology companies have entered Polish market, there are still plenty of opportunities and perspectives for the IT and software development in Poland. One of the reasons, why this sector is still highly encouraging is the rapid development and new products, such as mobile solutions, cloud computing and Blockchain technologies. Additionally, Poland offers certain state aid for investors and Special Economic Zones are developed to provide investors with the entire technology infrastructure.
Polish company for research & development
R&D sector in Poland is considered as one of the success stories among EU member states. The main actors of R&D sector are the Polish Academy of Sciences along with other higher education institutions and individual R&D businesses. The Polish government is also encouraging R&D activities by funding special programs through which numerous investment opportunities are available for R&D projects. Meanwhile, Polish universities prepare highly qualified workforce, which is relatively cheaper if compared with other EU countries.
Research and development activities are advancing in all major economic sectors, especially electronics, aviation, telecommunication and IT, biochemistry and biotechnology, pharmaceutical products and other innovative technologies. This sector is not only open to local entrepreneurs – national authorities welcome and support also foreign investments by opening numerous new science and technology parks which are specially designed to facilitate the establishment of R&D units.