Prime Minister: We want Polish businesses to survive the pandemic

Government support for businesses to save jobs and maintain financial liquidity in the aftermath of the crisis sparked by COVID-19 has now reached more than PLN 50 billion. Through various forms of co-financing, we helped to save 4.7 million Poles from unemployment. Under the Financial Shield alone, we allocated over PLN 40 billion to aid the entrepreneurs, thus helping to save 2 million jobs.


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

We are making sure that Polish businesses survive the pandemic said Prime Minister Mateusz Morawiecki during his visit to Furniko, a furniture company which has benefited from government support to safeguard jobs. ‘We want Polish furniture companies to be ready to make a leap into export once again,’ he added.

Support under the Financial Shield

The Financial Shield is a very effective tool that supports the financial liquidity of businesses. Although it has been in operation for a mere month,  we have already managed to provide entrepreneurs with PLN 40 billion worth of aid.

  • The average amount of support is PLN 687 thousand.
  • 205 thousand small and medium enterprises have benefited from the support.
  • 2 million workers have been covered by the support.
  • Entrepreneurs receive money in their bank accounts within 24 to 48 hours.

We estimate that up to 670 thousand Polish businesses which have suffered due to the coronavirus pandemic may take advantage of the Financial Shield. Close to PLN 100 billion will be allocated to micro-businesses, small and medium enterprises, and large companies. The support scheme, in operation until the end of July,  is managed by the Polish Development Fund.

Main industries benefiting from the Financial Shield subsidies

  • Wholesale and retail; car repair.
  • Industrial processing.
  • Construction.
  • Transport and warehousing.
  • Accommodation and food services.
  • Professional, scientific and technical services.
  • Other services.
  • Healthcare and social care.
  • Administrative and support services.
  • Information and communication.

Support under the Anti-Crisis Shield

  • Entrepreneurs have received PLN 13.5 billion to safeguard jobs.
  • The Social Insurance Institution and Labour Offices have received over 4.7 million applications for support.
  • More than PLN 3.9 billion have been paid out from the Guaranteed Employee Benefits Fund (FGŚP) to protect jobs.
  • Exemptions from contributions to the Social Insurance Institution have been granted for a total amount of PLN 1.8 billion.
  • Over 957 thousand micro-loans have been given to entrepreneurs, totalling at over PLN 4.7 billion.
  • More than 790 thousand downtime compensation benefits have been paid out to the self-employed and civil law contract workers, with the total amount exceeding PLN 1.5 billion.

Support under the Bank Gospodarstwa Krajowego shield

  • Loans for SMEs with guarantees of PLN 5.8 billion.
  • Loans for large and medium businesses with guarantees of PLN 0.9 billion.
  • PLN 2.4 billion of EU financing for SMEs.
  • The total amount of help is PLN 6.7 billion.

Thanks to BGK guarantees, entrepreneurs may receive PLN 120-130 billion worth of loans to support business liquidity.

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Furniko is a Polish company established in 1990. It specialises in the production of office furniture. In addition, it offers office planning, design and management services. The company owns a manufacturing plant in Koszalin and a showroom in Warsaw. It employs ca. 130 people.

 


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