The Export Credit Insurance Corporation (KUKE) predicts that the growth rate of Polish exports will slow down to around 6-7 percent, KUKE’s CEO Janusz Władyczak said. Last year, according to the Central Statistics Office GUS data, exports increased by 10.2 percent to €203.7 billion.
In his opinion, Polish enterprises still need support in expanding knowledge about solutions available on the market in terms of risk minimization in the course of trade. “Many companies operate without any collateral, and some use the simplest form of it, which is prepayment, while they can use insurance or factoring with the option of taking over counterparty risk and our consulting support – even before the transaction,” Władyczak said.
In his opinion, large companies are better at dealing with commercial transactions insurance because they have specialized departments that are trained in the selection of modern security tools. “Small companies often do not know insurance in commercial transactions, because the owner does not have time to look for such solutions. Research conducted in the European Union shows that only 10 percent of large companies do not use security instruments, including insurance. In the case of SMEs this percentage grows to nearly 30 percent,” he added.