The Rising Polish Economy Creates Opportunities For UK Entrepreneurs

The Brexit vote and rising Polish economy has created an interesting economic landscape in both the UK and Poland.

The Polish economy is growing fast, and thanks to an improvement in trade links between Poland and the UK, and infrastructure across Europe, many entrepreneurs are tapping into this new market.

Around 916,000 Poles are living and working in the UK, making Polish people the largest group of non-UK born population residing here, beating India who accounted for around 795,000 people.

New Polish-UK Business Partnerships

Poland’s economy is booming and is tipped to be the fastest-growing economy in the EU by 2050 according to a recent report conducted by PwC.  This hasn’t gone unnoticed by the many Poles living in the UK, who had previously left home in search of better prospects.

For many, the cities of Poland look quite different in comparison to the landscape they left behind several years ago. No longer dominated by Soviet tower blocks, modern office complexes are instead being built, interspersed with hip urban areas that attract the younger generations.

But it’s not all about the architecture. The job prospects back home have multiplied, and degree-educated Poles who had to settle for underpaid hospitality or NHS jobs in the UK, are now able to take advantage of exciting positions opening up in sectors such as technology or banking. JP Morgan, for example, has announced plans to create 3,000 back office roles in Warsaw.

The skills that Polish workers have learned during their time in the UK, such as improved language abilities, give them the edge when it comes to securing top positions. And while some Poles are returning to their home country to work in established businesses, many are creating their own UK businesses and forming lucrative trading partnerships with the latest growing market.

Seeking Out New Opportunities

As Poland is thriving, it makes perfect sense for UK businesses to position their brands to target this exciting new economy. Although Poland is one of the top six manufacturing countries in the world, it is also a major importer of goods. Several British brands have already found great success in Poland, with Tesco for instance boasting over 400 stores across the country.

In terms of digital opportunities, there are around 25 million Internet users in Poland, with many of them speaking excellent English, so the market is there to be tapped. As local Poles become wealthier, the amount of money that they’re putting aside for luxury goods increases year on year, meaning that there is a real chance of success in this nation.

Cheap shipping to Poland is the final piece of the puzzle and ensures that ecommerce businesses can thrive here, offering quick delivery times to keep international customers happy.

The impact of the growing Polish economy has had a considerable impact on both nations, and it will be interesting to see what develops in each respective economy over the next few years.