The Financing of Small and Medium-Sized Enterprises with the EU Structural Funds in Poland Between 2014 and 2020

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.