Fewer bankrupt companies this year
Over 40 percent of all the companies that went bankrupt in H1 2004 were wholesale traders and building companiesthat may be a lot, but it's still 30 percent fewer than in H1 2003.
However, the number of financial brokers that declared insolvency jumped by a staggering 120 percent, and the number of bankrupt companies from the recreation, culture and sport sectors doubled since H1 2003.
Cofaces analysis of bankruptcies in Poland in the years 1997-2004 revealed that the year 2002 marked the critical low: 1,863 companies went bankrupt that year, mainly in the building industry.
But Coface remains optimistic about the future of Polish companies. Although some will inevitably fold in 2005 because of their lack of experience in international trade, overall, the company projects that the financial situation will be better.
Companies will inevitably improve their conditions, because of the better economic circumstances in Poland and in the countries that cooperate with Polish companies. The analysts also predict that Polish entrepreneurs will become increasingly likely to use economic research centers and secure their contracts. (PAP, A.T.)
However, the number of financial brokers that declared insolvency jumped by a staggering 120 percent, and the number of bankrupt companies from the recreation, culture and sport sectors doubled since H1 2003.
Cofaces analysis of bankruptcies in Poland in the years 1997-2004 revealed that the year 2002 marked the critical low: 1,863 companies went bankrupt that year, mainly in the building industry.
But Coface remains optimistic about the future of Polish companies. Although some will inevitably fold in 2005 because of their lack of experience in international trade, overall, the company projects that the financial situation will be better.
Companies will inevitably improve their conditions, because of the better economic circumstances in Poland and in the countries that cooperate with Polish companies. The analysts also predict that Polish entrepreneurs will become increasingly likely to use economic research centers and secure their contracts. (PAP, A.T.)
