Poland to be one of the cheapest countries to do business
21:52
Entrepreneurs in Poland are not favored by the lack of clarity and instability of the law, which is why the consulting company TMF Group placed Poland on the list of 10 countries least accessible to foreign investors. On the other hand, investment experts such as Dominik Andrzejczuk say that thanks to a good climate and great specialists, Warsaw is better to live and invest in than California or Silicon Valley.
Now it turns out that due to costs, prices and the amount of salaries, Poland is one of the cheapest countries with a similar level of economic development to run a business. This is the result of the list prepared by Approve.com, a company offering tools to improve the procurement and purchasing process for business.
The ranking of the cheapest countries in the world to do business is opened by Hungary and Lithuania. Poland was also on the podium as the third least expensive country to do business. Slovakia and Latvia came close behind Poland. The TOP 10 is completed by the Czech Republic, Estonia, Mexico, South Korea, and Finland.
The general price index for running a business for Poland is 7.90, although Poland is not in the highest position in any of the categories taken into account by the authors of the ranking. Four countries just behind Poland (i.e. Slovakia, Latvia, the Czech Republic, and Estonia) have indicators at the level of 7.43-7.84. However, the winners of the ranking, Hungary, and Lithuania, definitely outclass us with results of 9.40 and 8.52, respectively.
Poland is the best when it comes to the level of internet prices. With an average result of only $14.74 per month, we are the second cheapest country in this respect, after Lithuania. Countries such as Germany, Great Britain, and Japan are almost three times more expensive than Poland. And in the United States, the penultimate country on the list, the internet is almost five times more expensive than Poland.
We are also favorable when it comes to the amount of the highest possible CIT rate, i.e. business income tax. In Poland, it is 19 percent, which gives us sixth place in the ranking.
