Impact of External Funds on the Growth of Small and Medium-Sized Enterprises in Poland

Currently, businesses in the SME sector are undergoing rapid expansion. When considering economic indicators, the question arises as to what drives the development of businesses: external factors, innovations, competition, or perhaps financing. Utilizing the example of companies in the medium-sized sector, this article seeks to show how external financing affects the development of companies. It presents a case study of a large chemical company based in Lublin Voivodship, Poland. The results of the study suggest that for the company to advance further, it should prioritize increasing its expenditures in the development of its R&D department, internationalization efforts, and staff qualification enhancement. The company’s strategy should include initiatives aimed at fostering innovation and further diversifying its product offering.