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ZPP Busometr Index without significant changes. Slow investment growth and good situation on the labour market



Entrepreneurs do not show a radical change in their economic sentiments – the latest results of the Busometer ZPP Index amounted to 44.67 points. This outcome is similar to the results from the second half of 2017.

“The results of the latest Busometr survey indicate that entrepreneurs from the SME sector have a rather neutral attitude towards the government’s economic policy. Moreover, compared to the previous survey, we did not notice any significant differences in the values of components that affect the Index. Although the ‘economic situation’ component is slightly lower, it is a minute difference amounting to only 6 points. The situation on the labour market has enjoyed a very decent level for a long time, and the investment rate has slightly increased,” says Cezary Kaźmierczak, President of ZPP.

The survey conducted by the Union of Entrepreneurs and Employers among a representative group of small and medium-sized enterprises in Poland shows that the greatest fluctuations in time concern the ‘economic situation’ component. Its current value amounts to 41.75 points. According to 35% of entrepreneurs, in the coming months the economic situation will not change, whereas 42% expect it to deteriorate.

Entrepreneurs in the manufacturing sector show positive attitudes regarding the economic situation in Poland in the perspective of the next six months – here the index is 52.59 points. The situation looks worse is in trade and services – approximately 38 points.

Two more components affect the Busometr ZPP Index – the ‘labour market’ and ‘investments’. Their respective values amounted to 55.14 points and 43.46 points.

“Optimistic entrepreneurial moods concerning the ‘labour market’ are demonstrated by entrepreneurs from all sectors. Similarly, if we take into account the size of the enterprise, the market experience or region. In all of these cases, the value of this component exceeds 50 points,” comments Cezary Kaźmierczak. “The reality that we now have an employee market finds proof for instance in the fact that 38% of entrepreneurs plan to raise wages in their companies over the next few months, while nearly 30% intend to increase employment,” he adds.

Since the first half of 2017, the growth of the ‘investments’ component has been slow. Currently, its value reached 43.46 points. In this field, companies from the manufacturing sector thrive best (the value of the index is close to 65 points).

48% of respondents declare that they will invest in the next six months. Entrepreneurs from the sector of medium and large enterprises show the greatest propensity to invest (53.7 points), however, there is less optimism among microentrepreneurs.


Busometr ZPP – the Index of Economic Mood in SME Sector is an economic barometer illustrating the level of optimism in small and medium enterprises, and their plans for the coming six months.

Three components affect the index: (1) the economic situation, (2) labour market (remunerations and employment) and (3) investments.

A value within the range of 0-100 is assigned to each component.

The Union of Entrepreneurs and Employers along with Maison Research House conduct the research among a representative group of small and medium enterprises (up to 250 employees). Busometr ZPP is published every six months.

Small and medium enterprises constitute in Poland 99.8% of all the companies in the country. They create three quarters of the work places and generate 67% of GDP.

Busometr ZPP. Prognosis for the first half of 2018_pdf

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