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One in three mid-sized firms plan to invest, despite epidemic: Polish study

04.08.2020 06:50
Despite the ongoing COVID-19 pandemic, one in eight entrepreneurs is planning to invest in their business in the near future, a Polish survey has found.
Image: Gerd AltmannPixabay
Image: Gerd Altmann/Pixabay Pixabay License

Six in ten of these intend to buy machinery and equipment, while almost a quarter want to plough more money into digital technology, according to the study commissioned by the National Debt Register (KRD) company, a business data provider.

The survey indicated that the smaller the firm, the more careful it is about spending money, state news agency PAP reported.

Almost nine in ten micro-entrepreneurs believe that new equipment, revamps and refurbishment projects can wait, according to PAP.

But nearly one in three mid-sized companies intends to invest in their business, the news agency added.

Poland’s Purchasing Managers' Index (PMI) rose sharply in July, extending its gains after a severe plunge at the height of the COVID-19 crisis, according to IHS Markit, a UK-based provider of financial information services.

Poland’s president in June signed into force a bill to protect companies, jobs, borrowers and local government from the fallout of the COVID-19 pandemic.

The measure, dubbed “Anti-Crisis Shield 4.0,” marked the latest part of the government’s extensive relief and stimulus package aiming to shore up the economy and shield it from the impact of the coronavirus.

A total of 47,469 people have tested positive for the coronavirus in Poland, with 1,732 deaths from the COVID-19 respiratory disease so far, officials said on Monday.

(pk)

Source: PAP