Government protects businesses against crisis

The Anti-Crisis Shield is effective and protects Polish entrepreneurs, jobs and consumers against the negative effects of the pandemic. Poland is in the forefront of countries that offer such comprehensive assistance to the economy. So far, the public aid allocated for this purpose has amounted to PLN 44.6 billion. The government is constantly working on new solutions and improving the already existing ones. Therefore, during the last Council of Ministers, an idea was presented which provides for protection of Polish companies against hostile takeovers by investors from outside the European Union.


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Photo: Adam Guz / Chancellery of the Prime Minister of Poland

Activities aimed at the stabilisation of employment, support of financial liquidity and preventing hostile takeovers are aimed at maintaining the production potential of Polish companies. These measures are intended to make it easier for them to return to normal operation once the pandemic is over.

Objective: a good start for businesses after the crisis

By launching the Financial Shield, we saved millions of jobs. These jobs together with the knowledge capital of Polish businesses will be a good starting point after the crisis. We want Poland to emerge stronger from it said Prime Minister Mateusz Morawiecki during his visit to Elsit in Gliwice, a company which received funding from the government.

The capital of knowledge and human hands

In Gliwice, the Prime Minister emphasised that it often takes years to create goodwill. When launching the Financial Shield, it was our goal not to let this capital of human hands and minds, the capital of knowledge, which has been “growing” in Poland for the last thirty years, but also before, be destroyed stressed Mateusz Morawiecki.

The Prime Minister took this opportunity to reassure that the government is protecting the Polish market and entrepreneurs from hostile takeovers by investors from outside the European Union. These are the situations when their valuation may be particularly low due to the coronavirus epidemic. This solution is to be in force for 2 years.

Financial and Anti-Crisis Shields - latest data

Above all, the government offers various tools within the Financial and Anti-Crisis Shield, which support business in a flexible manner. Loans for micro-businesses, the Guaranteed Employee Benefits Fund, idle time benefits for business people and contractors are just some of the instruments that support Polish businesses in this difficult time. The tools also comprise subsidies from the Polish Development Fund. Money is on the accounts of enterprises within a few days after submitting the application.

FINANCIAL SHIELD

  • Over 161 thousand businesses have received almost PLN 32 billion.
  • These enterprises employ more than 1.63 million people.

ANTI-CRISIS SHIELD

  • More than 4.36 million applications have been submitted to benefit from the solutions offered by the Anti-Crisis Shield.
  • So far, over 791 thousand loans have been granted to micro-entrepreneurs, amounting to more than PLN 3.95 billion.
  • Over 705 thousand idle time benefits have already been paid out, amounting to more than PLN 1.4 billion.
  • In order to protect jobs, over PLN 3.54 billion has been allocated from Guaranteed Employee Benefits Fund (FGŚP).
  • The Social Insurance Institution (ZUS) has approved the exemption from contributions for March-May as part of the Anti-Crisis Shield in the amount of PLN 1.8 billion. 
  • Nearly PLN 11.83 billion has been paid out under various instruments of the Anti-Crisis Shield.

Loans to micro-entrepreneurs (Labour Fund):

  • 791 195 – the number of loans granted,
  • PLN 3 946 385 117 – the value of loans granted.

Job protection (Guaranteed Employee Benefits Fund):

  • PLN 3 539 615 528 – the amount of funding allocated for the protection of jobs from the Guaranteed Employee Benefits Fund.

Idle time benefit for business people and contractors:

  • 704 539 – the number of idle time benefits paid out,
  • PLN 1 401 104 985 – the amount of idle time benefits paid out.

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ELSIT Sp. z o. o. manufactures inductive components as well as a wide range of electronic components. It was established in 1992. Currently, it produces over 12 million units of the products per year for both domestic and foreign customers. It uses the technologies of the best European manufacturers. The company owns the highest quality control and measurement equipment. All measurement systems are subject to supervision under the Quality Management System.


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