Abstract
Purpose – Identification of efficiency and effectiveness of usage of the EU structural funds in Poland directed to financing of SME sector enterprises in the years 2014–2020. Methodology – Review and assessment of Polish and international documentary and research papers concerning the financing of SME sector enterprises with EU structural funds. Findings – The most substantial support for small and medium-sized enterprises has been planned as part of the Smart Growth or the Eastern Poland Operational Programmes and the Regional Operational Programmes. The total funding allocated to small and medium-sized enterprises within two thematic objectives stands at over EUR 15.7 billion. The European Union’s Cohesion Policy towards supporting small and medium-sized enterprises in the years 2014–2020 will provide them with easier access to EU funds thanks to new flexible rules. These include the submission of reports on the use of EU funds via the Internet, limiting to the degree of control over small enterprises, easier criteria for qualifying projects or a greater number of financial instruments and greater access to them. Research implications – Results of the paper may be used in further researches regarding the use of European structural funds in Poland as far as SME financing is concerned. Practical implications – Results of the paper may influence the government organisations and raise the effectiveness of the distribution of structural funds among proper enterprises, which will improve the general efficiency in spending European Union’s Structural Funds. Social implications – Results of the paper may foster the improvement of awareness of proper allocation of European Union’s Structural Funds in Polish SME sector enterprises. Originality/Value – The paper supplements knowledge regarding the financing of SME sector enterprises by European Union’s Structural Funds in Poland in the years 2014–2020. Type of article – A theoretical paper.
Highlights
Poland’s membership in the European Union provides an ample opportunity for obtaining financial resources for business activity, as exemplified by the years 2007–2013
The initiatives within the structural funds which have the greatest influence on the development of small- and medium-sized enterprises are the instruments contained in the Smart Growth Operational Programme (SG OP) as well as the COSME Programme
The long-term policy of EU funding for small and medium-sized enterprises in Poland for the coming years is aimed at achieving economic growth and giving people satisfaction with new workplaces as well as modern products and services, in Eastern Poland which is less developed
Summary
Poland’s membership in the European Union provides an ample opportunity for obtaining financial resources for business activity, as exemplified by the years 2007–2013. Owing to the growing popularity of non-grant instruments of financing small and medium-sized enterprises, their role in the overall assistance from the European Union has been increased in the new framework for the years 2014–2020. This article aims to demonstrate the possibilities provided by the European Union’s Structural Funds as regards the financing of small and medium-sized enterprises. The aim of the article is to present the role and place of the EU structural funds in financing of SMEs in Poland. C possibility of financing of SMEs by means of external EU sources Another reason which has determined the choice of subject is the relatively low awareness in the SME sector of the possibility of benefitting from this kind of financial assistance. Ufrom information and publications prepared and released by the Central Statistical Office and the Polish Agency for Enterprise Development, was subject to due economic and comparative analysis
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