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75 pct of Polish companies have rainy-day funds: poll

“75 percent of companies have money set aside, which they can use if necessary, and for nearly 49 percent of entrepreneurs, the greatest challenge is to maintain financial liquidity,” a study conducted by the National Debt Register (KRD) and the NFG company found.

42 percent of companies that have rainy-day funds could stay afloat during a crisis for a period of 1 – 3 months. One third of the companies with financial reserves stated that they could manage without revenue for 3 – 6 months, while 19 percent declared that they could survive more than 6 months.

Among medium-sized companies, 85 percent answered that they have savings accumulated. In turn, only 62 percent of micro-companies declared they have some reserves.

“As much as 25 percent, i.e. every fourth company, has no reserves. And if you analyse the data through the lens of the enterprise’s size, 38 percent of micro-companies do not have any accumulated funds for rainy days,” the head of KRD Adam Łącki said.

According to the survey, the greatest challenges for entrepreneurs are maintaining financial liquidity (48.7 percent), acquiring new contractors (45.2 percent) and maintaining standing orders (40.5 percent). For every third company from the small and medium company sector, the main challenges are timely payments from contractors (34.4 percent) and obtaining funds for running the business (32.4 percent).

Maintaining liquidity is currently the greatest challenge for industrial, commercial and construction enterprises. The exception is the service sector, for which maintaining financial liquidity has become as important as acquiring new contractors or orders (48.5 percent).

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