The activity of startups has a multidimensional impact on both the economy and social life. The peculiarity of such initiatives means that a small proportion of them become mature enterprises. However, those that manage to reach this state become significant players in the economy, and the innovative nature of their operation makes the paths by which they exert their influence on the economy and society more diverse than other groups of companies. Read the article to the end and find out what is the impact of startups on the Polish economy.
Creating added value in the economy
Value added (the part of a company’s output that remains after subtracting the value of goods and services
used as inputs in the production process) belongs to very important economic categories. With its help it is possible to measure the company’s share in the production process of goods and services in the economy. The more added value a particular company produces, the greater share it has in the creation of GDP (added value is the main and most important component of GDP). The innovative nature of the functioning of startups makes them contribute to the production process, which ultimately leads to the generation of added value. The conclusion is one: the dynamic development of startups effectively contributes to the country’s GDP.
Impact of startups on Poland’s economy – Creating valuable jobs
Once a startup reaches maturity, it transforms into a significant employer. Startups are a very good place to work especially for young people with high and specialized skills. The creation of good jobs by startups serves an important social and economic function. It is especially important in the situation of high unemployment among the youngest age groups in the labor market.
Increase of human capital
Startups are important not only because of the creation of jobs, but also their quality. Jobs in startups usually require high qualifications in rapidly developing fields. These include, among others: IT, robotics, nanotechnology, biotechnology, creative industry or e-commerce. For this reason, it is important that the labor market encourages (e.g. with valuable jobs) the development and upgrading of skills in these areas. Startups create opportunities for people educated in fields that are innovative and promising for the development of the whole economy.
