Źródła finansowania innowacji w polskich przedsiębiorstwach
Sources of Financing Innovations in Polish Enterprises

Summary/Abstract: Purpose – Evaluation and analysis of the using of various sources of funding in general financing structure of innovative activity in industrial and service enterprises in Poland in the years 2008–2014. Methodology – This article presents structure and dynamics analysis of expenditures on innovation activity in industrial and service enterprises in Poland with regard to their sources of financing. The paper is based on the CSO data, which concerning on innovative activity of enterprises in Poland. According to the methodology of Oslo, the study were included in companies employing 10 or more persons. Findings – The analysis showed that both industrial companies and the service sector mainly finance their innovative projects from its own resources. In the analyzed period of time, meaning lost bank loans in favor of non-repayable funds from abroad, which are increasingly willing chosen by entrepreneurs to finance innovation. Noted an overall upward trend of expenditures on the innovative venture, but insufficient to compete with the leading countries of the world in innovation. Originality/value – Analysis of the using of various sources of financing of innovative activity in the section of their business (industrial and services) allows to the evaluation of changes in the surveyed entities due to the availability of different sources of financing, and subsequently also causes of financial decisions.

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