TRUST AS THE RESOURCE AND INFORMAL INSTITUTION IN ECONOMIC ACTIVITY AFTER 1988.

Purpose: The aim of the paper is to determine the level of trust of entrepreneurs in public life institutions and legal regulations, and to describe the way this affects the quality of business activity in Poland. Design/methodology/approach: The study herein was conducted basing on the qualitative research method. For this paper, the interviews were applied conducted by the author with entrepreneurs from 2017 to 2021. Besides, the author analysed also the interviews given by entrepreneurs (within 1998-2020) to the press, mainly of economic character. Moreover, the data was applied herein that had been collected by organizations monitoring activity of entrepreneurs and source materials published by the Polish Government and Parliament. Findings: All conclusions following from the entrepreneurs' experiences constitute a good base for catalogue of faults that amplify distrust of entrepreneurs in the institutions of public administration and judicial authorities. The faults, include, first of all, lack of permanent crossparty strategy of economic policy, designed and executed by subsequent governing groups. The next fault is fading social dialogue between entrepreneurs and the governing bodies. The quality of law implemented in Poland is dependent on consultation with entrepreneurs. They are the group that shall apply the legal regulations in practice. Respect to legislation is built through entrepreneurs' participation in its formation on every stage. Constancy and stability of legislation constitute the basic demand of entrepreneurs. Perspective of legislative stability enables entrepreneurs to create a certain idea of how the company shall operate within a longer timeframe. Research limitations/implications: The analysis is based on respondents’ subjective declarations. Practical implications: The article provides useful knowledge for politicians at the level of governmental and local authorities on the need to build trust of public institutions in entrepreneurs and entrepreneurs in public institutions. Trust is a factor that strengthens the effectiveness of economic activity. Originality/value: Analysis of a wide range of factors influencing entrepreneurs' trust in public institutions and public institutions in entrepreneurs. [ABSTRACT FROM AUTHOR]