Almost half of microenterprises forced to cut costs due to inflation

According to a survey by NFG "Company Expense Baromoter," nearly half of micro-firms (47%) had to cut costs due to high inflation, payment delays from clients, a decrease in customers, and other financial difficulties. The survey revealed that the main areas where cost optimization was focused in the last 12 months were reducing advertising expenses (55%) and implementing solutions to reduce electricity consumption (48%).

One-fourth of the firms sought cheaper service providers or substituted raw materials/products with more affordable alternatives. Additionally, 19% reduced staff positions or employee salaries. The study also found that the total debt of solo entrepreneurs in Poland increased to PLN 4.8 billion in July 2023, with an average debt of PLN 29,700 per debtor.

Source: 300gospodarka.pl