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Business
Business Profile
Warsaw is the undisputed business and commercial hub of Poland and also a major regional player on the rapidly emerging business map of Central Europe. The halcyon days of spiralling growth and low unemployment, which followed the impressive shift from a Communist to a capitalist economy, however, are well and truly over for Poland and its capital. Unemployment is at an all-time high, with a national rate of 18.1% in February 2002 and a city rate of 13.6% in the same period. Nationally some analysts are predicting that the level may even break through the confidence sapping 20% mark by the end of 2002. The government’s reaction to the economic crisis has drawn much criticism, as state intervention in the economy and moves for greater regulation of foreign business interests have put off some foreign investors. Foreign capital currently owns 75% of the Polish banking sector’s combined equity – one of the highest levels in Europe – but the government’s intervention has so far only seemed to exacerbate the downturn. With economic indicators plunging, more visible signs of hard times are becoming evident, with a proliferation of street vendors springing up, even on some of the city’s most chic shopping streets.
The business climate in Warsaw is more heavily geared towards the service sector than it is in the rest of the country. Large international companies that are based in Warsaw include KPMG, Daewoo, General Motors, Nestlé, Pepsico International, Philip Morris, Procter & Gamble and Westinghouse. ING Group (banking, insurance and real estate) has a strong presence with its Zlote Tarasy (Golden Terraces) office service and entertainment centre, the headquarters of ING Group, with rented space for fashionable shops on aleja Ujazdowskie.
One benefit of the decline in industry has been a corresponding drop in the level of pollution in the city. Over 70% of the total working population (including retail) are employed in the thriving service industries. The biggest growth area in recent years has been in banking and finance. Tourism is also becoming increasingly important to the economy. The Warsaw Stock Exchange – considered by investors to be the most efficient in Central Europe – was moved from its location in the former Communist Party Headquarters to an ultra-modern building on ulica Ksiazeca, in 2000. Approximately 60 large-scale trade fairs and exhibitions, including over 30 international fairs, take place in Warsaw each year. The three leading events are the Computer Exhibition in January, the International Book Fair in May and the TT Warsaw Tour and Travel in September. Increased demand for doing business in Warsaw has led to plans for a modern large-scale Warsaw trade and exhibition centre to be built on the Millennium Plaza Centre, located at the corner of aleje Jerozolimskie and ulica Bitwy Warszawskiej. Construction for this ambitious project began in the year 2000 and the scheduled date of completion is 2003. Until the new venue is complete, events are held at the Palace of Culture and Science (the most prestigious and popular choice), the Mokotow Fair Centre on ulica Bokserska, the Torwar Sports Centre on ulica Lazienkowska, the Exhibition Fair Centre in Wolka Kosowska and occasionally buildings of the Physical Education Academy, the Warsaw University of Technology and hotels, such as the Victoria, Holiday Inn and Marriott. There are dozens of Internet cafés sprinkled around the city centre and Internet facilities are also available at most of Warsaw’s luxury hotels.
Business Etiquette
Letters of introduction are extremely useful for establishing contact with businesses in Poland. Presentations should be thoroughly prepared and, at a minimum, the executive summary should be translated. Decisions are often by committee, so negotiations may be protracted and a deal cannot be confirmed until all parties have signed.
Until familiarity has been established, a person’s title and surname should be used when addressing them. Handshaking is customary and business cards (preferably translated) should be exchanged with all participants at a meeting. The dress code is, on the whole, sober and conservative. Breakfast meetings are rare, despite the fact that the business day begins early, although business lunches and dinners are popular. Government offices are open 0830-1630. Traditionally, offices in major industries were open 0700-1500, however, many have adopted Western business hours (0830-1700). Some businesses may open on Saturday morning.
The end of Communism brought the careers of many Polish people to a premature end, as the older generation was thought to represent an outdated system and inflexible attitudes. Consequently, many of those holding high positions in Warsaw’s business world today are quite young. They are also more likely to speak English.
Poles love to stay up late, talking and drinking and dinner invitations are likely. The person who issues the invitation is generally the one who pays the bill. It is important for visitors to make sure that if giving a gift of flowers, there should always be an odd number.
Business Services
Business Contacts: Krajowa Izba Gospodarcza
(Polish Chamber of Commerce)
ulica Trebacka 4, 00-074 Warsaw
Tel: (022) 630 9600. Fax: (022) 827 4673.
E-mail: infodata@kig.pl
Website: www.kig.pl
British-Polish Chamber of Commerce
Suite 1, ulica Zimna 2, 00-138 Warsaw
Tel: (022) 654 5971. Fax: (022) 654 1675.
E-mail: bpcc@bpcc.org.pl
Website: www.bpcc.org.pl
American Chamber of Commerce
Warsaw Financial Center, ulica Emilii Plater 35, 00-133 Warsaw
Tel: (022) 520 5999. Fax: (022) 520 5998.
E-mail: office@amcham.com.pl
Website: www.amcham.com.pl
Polish Canadian Chamber of Commerce
Room 307, ulica Chmielna 132, 00-805 Warsaw
Tel: (022) 573 6167. Fax: (022) 573 6169.
E-mail: mail@polcancom.pl
British-Polish Chamber of Commerce (UK)
148 Leadenhall Street, London EC3V 4QT
Tel: (020) 7645 8270. Fax: (020) 7645 8271.
Website: www.bpcc.org.pl
Polish-American Chamber of Commerce of the Southeast United States
Suite 3700, 1201 West Peachtree Street, Atlanta, GA 30309
Tel: (404) 870 4635. Fax: (404) 872 5547.
E-mail: pacc-atl@mindspring.com
Note: There is no national organisation, but the PACC will assist businesses from other US regions.
Trade Commissioner’s Office of the Republic of Poland in Canada
3501 Avenue du Musée, Montréal, Québec H4G 2C8
Tel: (514) 282 1732. Fax: (514) 282 1784.
E-mail: tradeoffice@poland-canada.org
Website: www.poland-canada.org
Warsaw Business Club (Canada)
2nd Floor, 2987a Bloor Street West, Toronto, Ontario M8X 1C1
Tel: (416) 236 4460. Fax: (416) 236 4797.
Polish Chamber Of Commerce (Australia)
198 Greenhill Road, Eastwood, Adelaide, SA 5063
Tel: (08) 8406 1669. Fax: (08) 8373 5793.
E-mail: citcsa@webmedia.com.au
Businesswomen may find it useful to contact the International Professional Women of Poland, a networking and social group (website: www.polska.net/ipwp).
Business library
Central Economic Library
Warsaw School of Economics, ulica Rakowiecka 22b, 02-521 Warsaw
Tel: (022) 849 5013. Fax: (022) 849 5098.
E-mail: infnauk@elpis.sgh.waw.pl
Convention and meeting planner
Lidex Conference Department
ulica Kawcza 44, 04-167 Warsaw
Tel: (022) 870 3661. Fax: (022) 870 3778.
E-mail: konferenceje@lidex.com.pl
Website: www.lidex.com.pl
This company also have a translation department, graphic design studio, and film studio.
Convention and meeting venue
Warsaw Congress Centre
Palace of Culture and Science, plac Defilad (PkiN) 1, 00-901 Warsaw
Tel: (022) 656 7711. Fax: (022) 656 7133.
An impressive venue with crystal and marble finishings, the Congress Hall can seat up to 3000 delegates, and there are a number of smaller auditoria and meeting rooms. Simultaneous translation and recording facilities are available.
Office equipment hire
Foreign businesspeople will find that the most convenient set-up for an office-away-from-the-office can be found at the international chain hotels. These have the added advantage of English-speaking staff and a familiarity with the administrative and business culture in Warsaw.
Secretarial service
Most of the larger hotels offer secretarial services as part of their business centre facilities.
Translation service
Union of Polish Translators
room 171, ulica Wspolna 62, 00-684 Warsaw
Tel: (022) 621 5678.
E-mail: stp-waw@intercom.pl
This company may be moving offices shortly.
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