In the third quarter of 2025, 85,368 new businesses were registered in Poland, 27 more than a year earlier, while the number of bankruptcies totaled 101, three fewer than in Q3 2024 – according to the latest data from the Central Statistical Office (GUS). These figures indicate a period of relative stability in the number of active enterprises, yet – as economists stress – they conceal deeper structural transformations within the Polish economy.
“We can clearly see that the Polish economy has entered a phase of stabilization. However, behind this apparent balance lie structural shifts: the services sector is expanding at a double-digit pace, while traditional retail continues to shrink. This signals a transformation toward a knowledge-based economy,” comments Mariusz Zielonka, Chief Economist at the Lewiatan Confederation.
Business Registrations: Stable Numbers, Changing Structure
While the total number of new business registrations in Q3 2025 remained virtually unchanged from the previous year, a growing divergence between sectors has become evident. Over three-quarters of all new entities were established in four key areas:
- Services – 25.2%
- Construction – 19.1%
- Other sectors (including education, health, culture) – 18.9%
- Trade and vehicle repair – 12.1%
The strongest year-on-year growth was recorded in services (+13.4%) and in “other sectors” (+8.2%), while trade and vehicle repair saw a dramatic 22.5% decline, the steepest in several years.
These results confirm that Poles are increasingly setting up low-barrier service-based businesses, particularly in professional, technological, and creative fields, while avoiding sectors with high fixed costs and cyclical risks.
“The dynamics of new registrations show the growing importance of flexible business models, especially in expert services and digital sectors. Meanwhile, in trade and transport, we can see the outflow of firms unable to withstand cost pressure and fierce competition,” adds Zielonka.
Legal Forms: Sole Proprietors Still Dominate, Cooperatives on the Rise
The vast majority – 82.8% of all new businesses – were sole proprietorships, whose number increased slightly by 0.1% year-on-year. This marks the first small uptick after two consecutive years of decline.
Limited liability companies (sp. z o.o.) accounted for 15.1% of registrations, but their number fell by 0.6%, reversing a long-term upward trend.
An interesting phenomenon is the more than threefold increase in newly registered cooperatives – from 38 in Q2 to 123 in Q3 2025. Experts attribute this to the rising popularity of local social initiatives and energy cooperatives.
Bankruptcies: Stable Overall, but Rising Among the Smallest Firms
In Q3 2025, 101 companies declared bankruptcy, three fewer than a year earlier, but 14 more than in 2023. The sharpest declines were observed in:
- Construction (–7 cases year-on-year)
- Services (–6)
- Information and communications (–3)
At the same time, an increase in bankruptcies occurred in:
- Trade and vehicle repair (+10)
- Industry (+2)
Structurally, the data show a shift of financial strain toward the smallest enterprises. The number of bankruptcies among sole proprietors rose by 5 cases, while bankruptcies among limited liability companies fell by 5.
“It’s the smallest entrepreneurs who are now bearing the brunt of adjustment to difficult conditions – rising labor costs, energy prices, and social contributions. Larger companies are better equipped to secure capital or pass costs on to customers,” says Zielonka.
Macroeconomic Context: A Mild Recovery Without Euphoria
This stabilization in registrations and bankruptcies is occurring amid a period of moderate economic recovery.
Following several rate cuts, the National Bank of Poland (NBP) reduced the reference rate to 4.25% in November 2025, lowering financing costs. However, this has not yet translated into a visible rebound in investment within the SME sector.
Entrepreneurs still cite the following as main barriers to growth:
- Cost pressures (energy, wages, social security contributions)
- Labor shortages
- Regulatory uncertainty
As a result, despite a stable macroeconomic backdrop, the pace of new business creation remains limited, with many companies focusing more on survival and cost optimization than on expansion.
Structural Transformation: From Trade to Knowledge and Services
A comparison of GUS data from previous years highlights a persistent trend: Polish entrepreneurship is shifting from traditional industries toward knowledge-based services. Between 2023 and 2025, the number of new firms in trade fell by over 20%, while in professional services it rose by nearly 15%.
This reflects the maturing of the Polish economy – moving away from a model based on retail and simple services toward one characterized by specialization, consultancy, IT, and creative industries.
“This is not stagnation – it’s transformation. The economy is evolving toward greater specialization, and micro-entrepreneurs are increasingly seeking a competitive edge in flexibility and skills rather than scale,” concludes Zielonka.
Summary: Stability with a Shift in Paradigm
| Indicator (Q3 2025) | Value | Year-on-Year Change |
|---|---|---|
| Business registrations | 85,368 | +27 |
| Business bankruptcies | 101 | –3 |
| Registrations in services | +13.4% | increase |
| Registrations in trade | –22.5% | decline |
| Sole proprietors among registrations | 82.8% | +0.1% |
| Sole proprietor bankruptcies | +5 cases | increase |
| LLC bankruptcies | 78 | –5 cases |
The third quarter of 2025 brings stability in Polish entrepreneurship – with no significant growth, yet with clear structural transformation underway.
New businesses are increasingly emerging in service-oriented and professional sectors, while traditional retail and micro-enterprises based on physical operations continue to face cost and competitive pressures.
