In this article I will provide basic information about the country and highlight how you can collect and evaluate all the information that you need.
The Poles are well educated with a commitment to work ethics that are not too different from their European counterparts. The main language spoken in the country is Polish while the other minority one is Silesian. Every piece of literature shared with the Poles during a business negotiation should ideally be translated into their language even if the verbal medium may be English. Due to many expats entering Poland for the purpose of business, the local business folks are used to interact with people from a variety of nationalities.
The Polish are reserved individuals but direct and frank negotiators. Establish a close and trusted relationship before proceeding to talk ‘shop’ with your Polish associates.
It is advisable to seek legal assistance when devising or entering a business contract in Poland as a signed agreement between two parties is considered serious and binding. In certain cases, even a verbal agreement can be taken as a done deal. However a written one is better to protect interests of both sides.
It would be beneficial to the foreign party to engage the services of a Polish translator who can explain all the terms and conditions included in a contract to avoid issues at a later stage.
The Polish Civil Code establishes the general rules of the contract law under which all contracts made within the country fall.
The Polish court system and civil procedures cover many areas that the legal system in other countries do not. Disputes between individuals or corporations, contract or tort disputes are considered to be civil procedures in nature.
Arbitration, on the other hand, is being used commonly to resolve commercial disputes in Poland. In fact, commercial contracts between foreign companies and Polish companies often contain arbitration clauses as they prefer to use a neutral forum instead of a state court. The organizations most commonly used to resolve commercial disputes are Arbitration Court at the Polish-German Chamber of commerce and the Arbitration court at the Polish chamber of commerce.
Hence, conducting business in Poland requires a good understanding of the Polish market, Polish negotiation skills, and business environment including the planned and existing regulations of the Polish Government.
The best preparation for doing business in any country is visiting it. This way you can experience the culture, check the shops and build your network.
With Trip.com you can compare flights and also book your hotel.
Hotellook compares different hotel sites so you always have the best rate.
Localrent connects you to national rental car providers per country.
Through TGM Panel, you can easily distribute surveys to check on the attractiveness of your products, what alternatives they use or what would be a good price level. Check their website!
Where it comes to assessing the viability of a product or service in a new market, I always look at the following aspects:
Can the product be imported and sold in the country, what are import duties and are there any restrictions on service delivery? What are the investments to comply to all regulations?
Is there a genuine demand for this product or service in the market and which aspects are decisive for the customers? What are common channels for marketing and sales?
How fierce is the competition and is there a clear market leader? Is there room for a new entrant and what happened to other companies trying to penetrate the market?
What steps are needed to enter the market and what are the related costs. How quickly can you expect revenue and what is a reasonable pay-back time?
You can of course find a lot of information yourself, especially about regulations. But in order to have a good view on the competition, you will have to search locally, visit retail outlets or talk with buyers. Only a local expert can do this.
Please note that there are many countries in the world and the biggest ones or the ones nearby are not automatically the best choice. It all depends of the market growth, the competition and the barriers for entry.
Therefore I would advise you to make a short-list of at least three, but preferably five potential new markets and compare them against the same criteria.
