Filters
Financial Security as a Basis for the Sustainable Development of Small and Medium-Sized Renewable Energy Companies—A Polish Perspective
In conditions of economic and political instability, when unpredictability affects business, the need for security, including financial security, becomes particularly important. In our study, we address this issue, with the main objective of comparing and evaluating the financial security of small and medium-sized renewable energy companies in Poland according to sustainable development goals. In order to study and describe relationships between selected groups of companies, financial ratios were used, including canonical variate analysis. The liquidity ratios of the surveyed companies indicated a low level of financial security in terms of the ability to meet short-term liabilities. The profitability of operations was low and did not contribute to the improvement of financial security in most of the companies. The lowest return on assets was found in the group of biogas plants. Higher profitability of assets was found in solar power plants, including those with system installations. Solar power plants were also characterized by a high level of total debt and a rapid turnover of assets in comparison to other studied companies. The results show that the financial security of small and medium-sized renewable energy enterprises in Poland is low, which may be a threat to sustainable development in the future.
Wybór formy opodatkowania mikroprzedsiębiorstwa jako instrument optymalizacji podatkowej w świetle zmian Polskiego Ładu
The purpose of this article is an evaluation of the impact of changes in regulations concerning income tax assessment and premiums for medical insurance from economic activity of microenterprises as part of the so-called „Polish Deal” on the value of regulatory liabilities arising from income tax and health contribution in context of various forms of taxations. Ambiguity and changeability of the regulations as well as an increase in regulatory liabilities is not helpful to entrepreneurs in business development and constitutes obstacles, hindering the advancement of the microenterprise sector. Choosing the taxation form of conducted business is very significant for the amount of income tax expense of microenterprise. Amendments to tax regulations due to the 2022 introduction of the „Polish Deal” caused a revolution in forms of accounting for income tax and regulations defining the value of premiums for medical insurance in microenterprise groups. It results from the conducted research that implementing regulations of the „Polish Deal” caused the increase of the regulatory liabilities for microenterprises which in turn in some cases result in a drop in profitability of conducted activity that can hinder entrepreneurship and lead to abandonment of conducting economic activity.
Polski ład a obciążenia publicznoprawne mikroprzedsiębiorców - wyniki badań ankietowych
InPoland, 2022 saw the entry into force of the Polish Deal, one of the key economic reforms of the recent years. The purpose of this paper is to identify the fundamental difficulties faced by micro-entrepreneurs due to changes brought by the Polish Deal, and to present their opinions on legal regulations implemented thereunder. Particular attention was paid to changes in tax and insurance contribution payments affecting the entrepreneurs. The source material is based on primary data retrieved during an empirical study carried out in2024 with local micro-entrepreneurs registered in the Wielkopolskie voivodeship. Once collected, the data was analyzed in detail and described with the use of descriptive statistics methods. It follows from the study that the entrepreneurs usually opted for simplified forms of taxation, such as the flat-rate tax on registered income. Most respondents had a negative view of changes implemented under the Polish Deal, and indicated an increase in fiscal burden, including a higher health insurance contribution and a change in the way it is settled. Also mentioned were the complicated regulations which made it more difficult to implement the new principles. Despite some positive aspects of the reform, such as the increase in tax brackets and in the tax-free base limit, micro-entrepreneurs said they feared an increase in their operating costs.
Financial Security of Social Cooperatives in the Catering Industry: Findings From the Financial Analysis vs. the Management’s Views
Financial security is essential in order for enterprises to survive and thrive in a competitive environment. It becomes especially important in crisis situations where restrictions are imposed that adversely affect business activities. Hence, there is a need for an in-depth exploration of what determines financial security in enterprises facing economic difficulties, especially in those primarily committed to social issues, namely social catering cooperatives. The purpose of this study was to assess and compare the financial security of social catering cooperatives active in Greater Poland during the COVID-19 pandemic. Research data was retrieved from 2020-2022financial reports of three social cooperatives. Information on how cooperative members view their financial security was collected during direct interviews based on a standardized questionnaire form. As demonstrated by the analysis of performance ratios, despite efforts made by the management, social cooperatives active in the catering business experienced a difficult financial situation during the COVID-19 threat, although their members had a positive perception of it. The difficulties were reflected in the cooperatives struggling to meet payment deadlines and to generate profits and positive cash flows. In order to avoid such issues in the future, they should focus on efficiently managing their trade credit, more actively seeking financial support from public funds, and strengthening their in-house communications. Managing these areas better can help ensure financial security and enable a more efficient functioning of cooperatives when faced with new economic hurdles.
Profitability of Self-Employment in Poland after the Introduction of the Polish Deal Regulations Compared to Other EU Countries
Functioning of the Energy Sector Under Crisis Conditions—A Polish Perspective
In the context of the coronavirus pandemic and the armed conflict between Russia and Ukraine, energy security is essential to economic challenges nowadays. The basis for the proper operating of the energy sector is to ensure a stable supply of energy to end users and to secure finances of energy companies, so that they can operate sustainably in times of uncertainty. In our studies, we have addressed this issue with the main objective of assessing the state of energy security from the perspective of the stability of the financial situation of energy sector companies in the context of the global energy crisis and a sustainable energy future. Financial indicators and a canonical variable analysis were used to examine the financial situation of companies in the energy sector and to describe links between selected groups of energy companies. Such companies operating during political and economic instability did not record worse financial results than in the year 2018. It was found that in case-studied firms, total debt decreased and moreover, liquidity and return on assets improved. Companies have focused on securing their financial health and ensuring the stability of their energy supplies and the issue of the environmental impact of energy production has unfortunately become a secondary concern. Nevertheless, in the event of further crises, it is reasonable to assume that a focus on maintaining liquidity and generating profits for energy companies will be more important to companies than environmental challenges and the fight against climate change.