Monday, April 20, 2015

National Debt Register. The economy has lost nearly 300 million for … – Money.pl

2015-04-20 6:30

 National Debt Register. The economy has lost nearly 300 million ... The lack of trust

[Photo: Milosz Poloch / Reporter]

Nearly half (47 percent) of Polish entrepreneurs resigns from concluding part of the contract, because there is no confidence in the counterparty – According to data from the National Debt Register. Experts suggest that this results in a loss for the economy even estimated 281 billion dollars.

The survey shows that 73.5 per cent. of respondents say that doing business must still be careful not to get ripped off. The 53.2 percent. argues that must constantly gather evidence of their honesty, and 52.5 per cent. are convinced that other entrepreneurs will use a loophole in the contract to receive additional benefits from the contract at the expense of the other.

The study was conducted by a team of scientists led by prof. John Fazlagicia from Poznan University of Economics commissioned by the National Debt Register and reliable companies.

– The fact that Poles do not trust, there is nothing new, but so far no one has studied what is the level of trust between enterprises, and how this translates into the economy. Our experience showed that it is low, so we decided to measure it – pointed president of the National Debt Register Economic Information Bureau Adam Łącki.

– If someone runs a business and want to grow your business, can not be closed on cooperation only with current, reliable contractors. Moreover, you can also fail. It is necessary to permanently expand the market, looking for new partners – rated, quoted in the release, President Waldemar Sokolowski reliable companies.

– When traders fear it suffers trade, and thus the entire economy. Businesses affiliated with the program Reliable Company, and there are 50 thousand., Very often emphasize the point – he added.

The survey also shows that 47.1 per cent. entrepreneurs declare that part of the transaction does not take place, because there is no trust in potential customers. 27.1 percent. goes a step further and even close to working only with reliable customers. The 35.2 percent. claims that many of their transactions do not take place, because they are treated by others as niesprawdzeni or unrecognizable.

The research team estimated these indicators referring to all companies operating in Poland that the value of transactions not included varies from 145 zł 215 billion, which is equivalent to 10 per cent. Polish GDP from 2014.

The experts added, based on the declarations of the companies, that if they take additional measures to improve their credibility, it would gain an additional 66.3 billion zł from the transaction, which is 3 percent. Polish GDP last year.

– total, in the most pessimistic scenario, in 2014. Polish economy has lost 281 billion zł is the trust deficit – the experts stressed.

– This is a huge amount, but it’s not the only losses that assume because of the low level of confidence. More serious and more long-term effects will affect the lack of trust in relations between firms on innovation economy – Łącki noted.

– The lower the level of trust, the less prone it cooperation. Without that small and medium-sized companies will not be able to connect to fund research to create new products and services – he added.

In the opinion of experts from KRD Polish economic growth is largely the merit of cheap labor, which compete with the West.

– According to the latest Eurostat data, in the last decade, the cost of labor in Poland increased by 75 per cent., in 2042 r. is expected to reach the EU average. Investors then move to where cheaper. If this time does not create a knowledge-based economy, it will end up economic growth. Coordinated action is necessary to raise the level of confidence in Poland – said Sokolowski.

The survey was conducted in late 2014 and 2015. A representative sample of 1115 companies from all sectors of the economy.

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