Category: Business

  • ‘The Difference Between Margin and Markup’

    ‘The Difference Between Margin and Markup’

    The difference between margin and markup is extremely important for anyone involved in commerce. Often these two concepts are confused and used incorrectly. The basic difference comes from the methods of calculating margin and markup. Margin Margin is the percentage of the final selling price that remains as profit after the sale. For example, if…

  • What are cryptocurrencies?

    What are cryptocurrencies?

    Cryptocurrencies are, in simplified terms, digital currencies that do not have a physical form. Currently, they mainly serve as an investment due to their spectacular value growth. The oldest cryptocurrency, Bitcoin, was created in 2009 and was worth less than $1,700 in early 2016. However, by March 2021, its value had exceeded $56,000. In addition…

  • Polish Stock Exchange – Opening and Closing Hours and Sessions.

    Polish Stock Exchange – Opening and Closing Hours and Sessions.

    According to the schedule of the Warsaw Stock Exchange (GPW), transactions on the exchange can be made between 8:30 – 17:05 from Monday to Friday, excluding public holidays. Below, we present the basic phases of the trading session on the GPW: – 8:30 – 8:45 – “Pre-market” – During this phase, buy and sell orders…

  • Minimum wage in 2021 gross and net

    Minimum wage in 2021 gross and net

    What is the minimum wage in 2021? We have checked and provide the gross and net amounts, i.e., take-home pay. In 2021, the minimum wage on an employment contract is 2,800 PLN gross. This is an increase of 200 PLN compared to 2020 when the lowest wage was 2,600 PLN gross. How much is the…

  • ‘The minimum hourly wage in 2021’

    ‘The minimum hourly wage in 2021’

    What is the minimum hourly rate in 2021? In 2021, the gross minimum hourly rate is 18.30 PLN per hour. The net rate is 13.37 PLN. The hourly rate applies to individuals who are paid based on a mandate contract and self-employed individuals. The legal basis regulating the minimum hourly rate is the Act of…

  • “Revenue vs. Income – What’s the Difference?”

    “Revenue vs. Income – What’s the Difference?”

    Income and revenue are often understood as synonymous terms. However, this is a big mistake. Income is simply the amount of money earned. It can be obtained through employment, investments, or the sale of a car or property. Revenue is income minus the costs incurred to obtain it, such as taxes, fuel charges, bills, etc.…

  • What is PIT? What is the PIT tax rate in Poland?

    What is PIT? What is the PIT tax rate in Poland?

    PIT is a direct tax collected from individuals (which in practice means every person from birth to death). It is collected from various sources of income, such as wages from employment, conducting non-agricultural business activities, rental income, or participation in investments. It is worth noting that this tax is paid on income, not revenue (what…

  • “Can a customer return a used/damaged product within 14 days?”

    “Can a customer return a used/damaged product within 14 days?”

    Many entrepreneurs running online stores wonder whether a customer can return a used or damaged product within 14 days of receiving it. Most people who have had any experience with online shopping are familiar with the customer’s right to return goods within 14 days of receiving them. In most cases, customers return new, unused products…

  • ‘Who is the richest person in the world?’

    ‘Who is the richest person in the world?’

    The richest person in the world today (May 2021) is American Jeff Bezos, the founder and CEO of Amazon. As of May 22, 2021, his wealth was estimated at 186.7 billion dollars, but this number is constantly changing. There have been times when Bezos was valued at over 200 billion dollars. In 2019, his wealth…

  • ‘Who is the richest person in Poland?’

    ‘Who is the richest person in Poland?’

    The richest person in 2021 is Michał Sołowow, the owner of Synthos, Barlinek, and Cersanit companies. His fortune is estimated at 15.5 billion Polish złoty (PLN). Sołowow’s business activities mainly revolve around the chemical industry and sanitary ceramics. Sołowow’s industrial group is the world’s largest producer of floorboards and the largest producer of polystyrene in…

  • One billion, how many millions is that?

    One billion, how many millions is that?

    1 billion, how many millions is that? Billion, million – both of these numbers seem huge to most people, whether we are talking about money or anything else. However, it is worth knowing that the difference between the two is actually massive. Anyone comparing a millionaire to a billionaire will tell you that. Assuming a…

  • “Bubble, How Much Money Is It?”

    “Bubble, How Much Money Is It?”

    One Bubble, how much money is that in PLN? We often hear this term, but do we know what sum it represents? One Bubble, how much is it in PLN? One Bubble usually refers to one million PLN. However, it can be interpreted differently depending on the community in which it is used. Sometimes, although…

  • “What are the most expensive fashion brands? Top 10 brands”

    “What are the most expensive fashion brands? Top 10 brands”

    The global fashion market was worth $760 billion in 2021 and is expected to continue growing in the coming years. Which brands were the most valuable at the beginning of the third decade of the 21st century? The following ranking is based on the financial value of each company on the global market in 2020.…

  • What is the best business idea in 2022? 3 proposals

    What is the best business idea in 2022? 3 proposals

    In 2022, individuals with capital saved are primarily looking for solutions that do not involve high risks. Here are 3 ideas for a proven and secure business in 2022. 1. Online store In 2022, starting an online store is still a great business idea. It is a straightforward and relatively inexpensive process – you don’t…

  • ‘How to check NIP number?’

    ‘How to check NIP number?’

    NIP, which stands for Numer Identyfikacji Podatkowej, is a unique identification number assigned to every individual and legal entity registered as a taxpayer in Poland. It is necessary for filling out tax declarations and for conducting business. What happens if it is lost? How to check NIP? In this article, we will present several ways…