Budgeting for the First Time – How to Start and Effectively Manage the Process
First-time budgeting, like any new task, may seem difficult and complex, but it brings immense value to managing a company. It’s worth taking up the challenge – a well-prepared budget is a roadmap that guides your organization toward achieving its goals and helps it survive in a dynamic economic environment.
The Impact of the Minimum Wage Increase in Poland in 2025 on Entrepreneurs and Company Profitability
At the beginning of 2025, the minimum wage in Poland will rise to PLN 4,666 gross, with the minimum hourly rate increasing to PLN 30.50. For many entrepreneurs, particularly those in the small and medium-sized enterprise (SME) sector, this change represents a significant challenge. While the main goal of raising the minimum wage is to improve the financial situation of workers and boost their purchasing power, for employers, it necessitates considerable adjustments in cost management and operational strategies.
Clients delaying payments? Protect your business from liquidity loss
Delayed payments are one of the most significant challenges faced by Polish entrepreneurs. Currently, the average waiting time for invoice payments is approximately 60 days, and in many cases, it exceeds even 90 days. By the end of 2023, one in three companies in Poland grappled with overdue payments, posing a serious threat to financial liquidity, especially in light of today’s economic challenges.
Choosing an accounting office step by step
What to consider when choosing an accounting firm to ensure the partnership meets your needs and supports the company’s strategy and goals?
Is Financial and Accounting Outsourcing a Good Solution During a Crisis?
Dynamic changes in the economy, the challenging lockdown period, and the war in Ukraine are just a few of the disruptions affecting entrepreneurs recently. High inflation, often leading to halted investments, coupled with a high risk of losing liquidity and supply chain breakdowns, paint a picture of exceptionally difficult conditions for many businesses. The current reality shows us that we need to get used to the term "economic crisis" for a longer period. In such a situation, quick reactions to changes in the economic landscape are essential, as the speed of response can determine a company's survival. Can a good accounting office really help us in tough times?