In recent years, Poland has emerged as a promising destination for foreign entrepreneurs seeking to establish their ventures in Europe. With a strong economy and a strategic geographical location, the country offers a lot of opportunities.
One key factor that has contributed to this attractiveness is the availability of various grants and subsidies provided by the Polish government to support foreign entrepreneurs. In this article, we will explore the diverse range of financial incentives designed to encourage and facilitate business development for international investors in Poland. If you want to know more about Polish grants and subsidies for foreign entrepreneurs – this article is for you.
Understanding the Landscape
Before delving into the specifics of available grants and subsidies, it is crucial to understand the Polish business landscape.
Poland, as a member of the European Union, has access to a wide range of funding programs aimed at fostering economic growth and innovation. These programs are often open to both domestic and foreign entrepreneurs, creating a level playing field for international investors.
Grants for Startups and Innovation
Poland recognizes the importance of innovation in driving economic progress. As a result, there are several grants targeted specifically at startups and innovative projects. The National Centre for Research and Development (NCBR) plays a central role in administering grants that support research and development activities. Foreign entrepreneurs can access these funds to boost their technological advancements, product development, and overall competitiveness.
Polish Development Bank (BGK) offers a “First business – start-up aid government programme”. Their support is aimed at graduates of schools and universities and last year students who are looking for jobs, registered unemployed people as well as carers of the disabled looking for a job. The support is also aimed at entrepreneurs, agricultural producers, and many more.
Regional Development Grants
To promote balanced economic growth across the country, Poland offers regional development grants. These grants are particularly advantageous for foreign entrepreneurs establishing businesses in less economically developed regions.
Regional Programs (RP) enable the financing of development services selected from the Development Services Database. Thanks to them, entrepreneurs and employees of micro, small, and medium-sized enterprises, as well as individuals throughout the country, can receive up to 100% funding for the training and advisory services of their choice.
The funds are intended to stimulate local economies, create job opportunities, and enhance infrastructure. By strategically choosing a location eligible for regional development grants, foreign entrepreneurs can enjoy financial support while contributing to the growth of specific regions.
The Regional Programs are managed by the Marshal’s Offices of individual voivodeships.
EU Structural Funds
Poland, being a member of the European Union, has access to various EU structural funds aimed at supporting different sectors, including entrepreneurship. These funds are allocated to initiatives that align with the EU’s broader economic development goals. Foreign entrepreneurs can tap into these funds through collaboration with local partners or by participating in projects that meet the eligibility criteria.
At the beginning of 2024, Poland has met the final requirements to receive EUR 76 billion in structural funds from Brussels over the next three years.
Subsidies for Job Creation
Another avenue for financial support is through subsidies designed to encourage job creation.
The Polish government offers incentives for hiring local employees, providing a boost to employment rates and fostering positive relationships between foreign businesses and the local workforce. These subsidies can significantly alleviate labor costs for foreign entrepreneurs, making Poland an attractive destination for establishing and expanding businesses.
Conclusion
Poland’s commitment to fostering economic growth and innovation is evident through the diverse array of grants and subsidies available to foreign entrepreneurs.
Navigating these opportunities requires a strategic approach, with careful consideration of regional development, innovation, and employment objectives.
As the business landscape continues to evolve, Poland stands as a welcoming destination for international investors willing to seize these financial incentives and contribute to the country’s dynamic and thriving economy.
Adwisen offers you qualified and helpful assistance with any of the grants and subsidies mentioned in this article.
