The Economy Ministry is preparing to launch a new program of initiatives designed to support small and medium sized enterprises and intended to go much further than its much heralded "Enterprise First" ("Przede wszystkim przedsiebiorczosc") from earlier this year.
Key moves on the formal side include the right to charge official interest after 30 days on invoices issued under agreements with longer payment periods, and when there is no payment period defined in the agreement, the obligation on ordering parties to provide bills of exchange when dealing with such longer payment periods.
All of this is aimed at easing cash-flow problems - identified as one of the key issues for small firms.
The 1.7m SMEs active in Poland produce as much as 50 percent of the country's GDP, employ 70 percent of the workforce and have a 46 percent share in export.
Source: Gazeta Wyborcza
