In the first half of 2024, banks granted micro-enterprises only half a percent more loans, valued at 3.8% higher than in the corresponding period of the previous year. Only in the segment of working capital loans did both the number (+1.9%) and value (+3.1%) of granted loans increase. From an industry perspective, service companies stood out in the past semester, with their financing increasing in number by 3.1% and even by 10.6% in value.
In the first semester of 2024 compared to the corresponding period last year, banks granted only 0.5% more loans to micro-entrepreneurs for an amount 3.8% higher. Only working capital loans were characterized by a small, though positive sales dynamics in this period in terms of both number (1.9%) and value (3.1%). The attention is drawn to an over 10% drop in interest in current account loans, whose value decreased by almost 8%. A more than a quarter lower (25.3%) number of investment loans granted contrasts with a significant over 15% increase in their value.
Analyzing short-term trends, in June this year, compared to June 2023, banks granted micro-entrepreneurs 25.3% less investment loans, although the value dynamics were positive and amounted to 49.3%. The same phenomenon occurred throughout the first half of the year, leading to the conclusion that micro-entrepreneurs are still not interested in investments and financing them with a bank loan. However, those entrepreneurs who use bank loans borrow them for increasing amounts,” says Dr. Waldemar Rogowski, Chief Analyst of BIK Group.
Entrepreneurs continue to support their business with working capital loans, although, as the statistics from the last half year show, these are balanced decisions in time. However, a 10% drop in interest in current account loans was primarily due to the reversal of the trend regarding inventories. Last year, due to high inflation and the risk of lack of availability of raw materials and products, a number of micro-entrepreneurs built a safety buffer by investing in stocks, which were growing across the entire economy. In the recent period, stocks are falling, resulting in less interest in financing them with a bank loan – Rogowski explains.
In the first half of this year, compared to the corresponding period in 2023, an increase in the number of loans granted was only observed in the service sector (+3.1%), and the value of these loans increased by 10.6%.
Interest in loans has decreased in other industries, in terms of the number – mostly in trade (-2.8%), and in terms of value (-4.1%) in construction.
In the last six months of this year, micro-entrepreneurs from the service industry stood out against micro-entrepreneurs from other industries in terms of an increase in the number and significant value of loans taken out. It can be assumed that the cause of this revival could be favorable economic conditions and the growing demand in the economy for services. It should also be added that in June alone, banks granted PLN 735 million to micro-entrepreneurs running a service business, which accounts for 36.5% of the total value of loans for the so-called small business, adds the chief analyst of BIK Group.
Source: https://ceo.com.pl/niewielki-wzrost-kredytow-dla-mikroprzedsiebiorstw-w-pierwszym-polroczu-2024
