Involving Micro and Small Enterprises in the Energy Transition: Evidence from Poland

Abstract

The energy transition is one of humanity’s most significant challenges. All micro, small, medium, and large enterprises will have to face it, and some are already making progress. This paper focuses on the involvement of the smallest actors in the energy transition. Micro and small enterprises comprise the largest part of the economy and significantly impact its development. Concerning the broad scope of their activities, these entities are characterized by a specific owner–manager relationship. This means that the final decision is influenced by business objectives, the manager’s approach, their awareness of change, and personal and other factors. Based on the analysis of data from 400 companies, it was found that the involvement of micro and small enterprises in the energy transition is related to their market and financial success.

1. Introduction

Transformation is a long-term change process resulting from economic, social, technological, institutional and/or environmental development. This process also involves energy systems, which, as we know, are not static. Energy transition is a complex and difficult process to describe [1,2,3]. It is expected to contribute to the goals within the realm of sustainable development and the European Green Deal. It will only be possible through the industry’s commitment to actions for a more sustainable economy [4,5,6].

Innovative solutions must be promoted to move smoothly through this process, and governments and companies must invest in technologies based on renewable energy sources. For these activities to be effective, all organizations must participate, including those in the micro and small business sectors [7]. Promoting these processes from the viewpoint of micro and small-sized companies indicates the necessity of adopting a broad perspective on external conditions for developing activities mainly related to the transfer and financing of technological solutions [8]. To strengthen their position in the market and increase the scope of energy transition, the indicated enterprises often have to seek assistance from external sources. Researchers point to the economic benefits of efforts to transition energy. They suggest that the digitization and efficiency of energy consumption activities have an increasing impact on the market and financial performance of pre-enterprises. This is associated with a reasonably fast payback period, which for small projects is only about 3 to 5 years [9]. From an economic perspective, environmental effects are significant. The economic cost–benefit relationship focuses on the growth model associated with maximizing production or service delivery with less energy and resource consumption. Such a value-based approach leads to currently relevant considerations about the purpose of trade and the nature of what is simultaneously beneficial to the business development of the environment in which it operates. Such activities, supported by a broad range of tools and applications, will increase the potential of micro and small businesses to make a genuine and lasting difference in reducing their impact on their part of the environment [10,11].

In light of this, a vital factor in determining the development of businesses in line with the energy transition is collaborating with the environment of these entities. In addition to external adaptation, the internal dimension of the environment of a given enterprise is also crucial in the literature. Under the complete or potential control of a given entity includes various resources used in the management process (i.e., financial, human, physical, and information) that support the development of energy transition [4,12]. It is, therefore, necessary to strive to build open relations between different sectors to support activities aimed at energy transformation. Strong promotion of energy investments for micro and small businesses will arouse the involvement of their owners in these ventures.

Respecting features such as flexibility, entrepreneurship, and innovation is key to implementing environmental programs and increasing the competitiveness of enterprises [13,14].

Therefore, promoting energy transition in micro and small companies is a direction that builds a new quality of their functioning in the market. Therefore, both the role and tasks of the entrepreneur themself are changing. You should also be aware that in crises, these conditions may become critical barriers that have a negative impact on energy transition [15,16,17].

Taking into account that micro and small entities are the most significant part of the economy, have a great influence on its development, and look at the wide scale of their activities, a specific owner–manager relationship distinguishes these entities. This means that business goals influence the final decision making process, the manager’s approach, their awareness of changes, and personal and other factors. Therefore, the area of energy transition for micro and small businesses should be intensively studied by researchers. Polish and foreign researchers have already studied the relationship between the management process, energy transition, and sustainability [18,19,20]. Although discussion of the energy transition touches on financial and market issues and effects [20] more often in large companies, it rarely refers to micro and small companies. The discussion in this area is legitimate because it is essential for realizing environmental goals to develop energy transition.

Consequently, there is a research gap in this area because while much has been written about the importance of this problem vis-à-vis the activities of large companies, there is still little research on micro and small companies. Taking steps to clarify the research gap, this study aims to assess the degree of involvement of micro and small enterprises in the energy transition and its relationship to the market and financial performance of these entities. Implementing the adopted goal will allow us to assess the involvement of micro and small business owners in the energy transition.

The article consists of five parts. The first part describes the essence of the energy transition, the second part presents the challenges of this transition for enterprises, the third part covers the methodology, the fourth part presents the research results, and the last part discusses the results and their limitations.

2. Energy Transition Challenges for Businesses

Since the beginning of the European Union, energy security has been mentioned as a primary strategic goal, which should be considered in a very broad context, referring to all users in the EU, ensuring their high quality of life, environmental protection, and sustainable economic development [15]. The European Union is thus a leading global pioneer in climate change mitigation efforts by reducing its carbon footprint and using renewable energy sources. Unlike in Poland, in the old EU countries, China, the US, or the world in general, the energy transition was initiated independently of climate policy, by strategic considerations (programs) aimed at gaining a competitive advantage through it in the emerging new geopolitical system [21,22,23,24,25].

To date, the EU has based its energy architecture and planning on four major policy packages, namely:

-

Strategy for an Energy Union [26].

-

Clean energy for all Europeans [27].

-

European Green Deal [28].

-

Fit for 55 [28].

The listed energy packages and environmental targets focus on energy transition, encouraging emission reductions by reducing fossil fuel consumption, using renewable energy sources, and increasing energy efficiency. The most crucial element in this context is the transformation implemented as a steady strategy to build energy independence and competitive advantage pursued by the EU for more than 20 years. The strategy, which consists of transforming energy into a factor of endogenous development, aims to eliminate the importance of energy as an exogenous factor. The realization of such far-reaching goals, viz., eliminating the EU’s dependence on fossil fuels through the use of RES sources, will support the construction, with its human resources, of technological superiority in the markets for meeting energy needs, which, as a result of the transformation, will replace today’s sectoral WEK (co-fuel energy) [29]. Above all, these measures will lead to profound changes in the functioning of the European economy, society, and businesses, including micro and small ones. At this point, it should be noted that the energy transition will not be realized solely by micro, small, and medium-sized companies and other organizations—it must always result from the government’s adopted policies and its cooperation with major companies and organizations. Such efforts can help micro and small businesses understand and take initiatives in this area [30]. Therefore, the addressees of the energy transition are individual energy consumers and businesses, which contribute to counteract the adverse effects of human activity on the environment. Business owners must, therefore, be aware that investing in renewable energy is a way to reduce business costs and improve the company’s image. Customers aware of the energy transition are more likely to choose companies that care about the environment. In meeting their needs, companies stay in the supply chain, often working with other equally conscious stakeholders [31]. Such behavior facilitates planning an energy strategy and understanding the factors that determine its development in a given sector or industry. This will positively impact the planning of all activities supporting the energy transition for high- and low-carbon sectors, especially micro and small businesses. This is in line with Article 3(1) of Directive 2018/2001/EU, which stipulates that by 2030, at least 32% of the gross final energy consumption in the EU should come from renewable energy sources (RES). In the context of the European Green Deal, this percentage has risen to 40% [32]. In May 2022, the European Commission introduced the REPowerEU plan, aiming to boost renewable energy to make up 45% of the total by 2030, achieving a renewable energy generation capacity of 1236 GW [31].

The plan consists of three courses of action outlined in the EU’s current energy security document [31]. The first course focuses on energy conservation, stating that this is the most cost-effective and environmentally friendly method to reduce dependence on imported fossil fuels. Every individual and organization can contribute significantly to this goal through small actions like adjusting heating temperatures and using household appliances efficiently [31].

The second course concentrates on clean energy production [33], particularly encouraging households and businesses to transition to solar PV. The REPowerEU plan targets the installation of over 320 GW of photovoltaic energy by 2025 and 600 GW by 2030. This increased capacity will replace the consumption of 9 cm of natural gas energy per year by 2027.

The final course of action involves diversifying energy supplies by decreasing reliance on Russian energy and increasing imports of liquefied natural gas (LNG) from countries such as the US, Canada, Norway, Egypt, and Israel. Additionally, there will be increased gas imports from Azerbaijan, Qatar, Australia, and Algeria, as well as exploring export opportunities with sub-Saharan African countries like Nigeria, Senegal, and Angola, and coordinating with gas consumers like Japan, China, and Korea [34,35,36,37].

The steps planned for the transition to clean energy are very complex. During their implementation, many factors can affect their success: technological, social, geostrategic, legal, financial, behavioral, cultural, etc. It is also essential to be aware that every action taken opens the way to new opportunities and the emergence of new problems or barriers [38,39,40]. In these processes, special attention must be paid to anticipating potential risks and barriers, and the watchword in this regard must be a “comprehensive EU energy transition policy framework” [41]. Decision makers must constantly analyze the consequences of the actions taken, considering all elements that may affect the implementation of these actions [42,43,44,45,46,47].

The main barriers to the energy transition process include a lack of knowledge and awareness, lack of trust on the part of consumers, energy illiteracy, technical barriers (little experience in managing the reversal of power flow from high-generation photovoltaic (PV) installations in the system and the fact that the growing number of prosumers may lead to an increase in grid overhead), investments with high financial costs, entrenched patterns of energy consumption that may cause resistance to change, opacity of the energy market, etc. [39,48,49,50].

In addition, the interests of companies producing and distributing traditional forms of energy may deliberately motivate some decision makers to delay the implementation of this strategy. This is because too few subsidies are given to businesses and the public to cover current energy costs. Poorer consumers remain wary of the investment required to transition to new technologies [35].

To remove the barriers that have arisen, it is necessary to create access for entrepreneurs to a wide range of financing for investments made in energy efficiency improvements [51].

Accordingly, energy efficiency measures can be supported by both state and local government bodies, as well as other entities such as associations or foundations. Government intervention is an essential element of the ongoing debate that shapes policy in this area. The literature lists many forms of regulation that can support such activities, such as various types of subsidies and taxes, targeted credits, legal regulations, guarantees for specific risks, or offering id insurance using an objective, non-detailed product information system (such as energy labeling). The rationale and degree of government intervention are subject to debate and regulation in the European Union and internationally.

As shown by Trianni et al. [17,47,52], two main factors have been identified that spur the involvement of micro and small businesses in overcoming barriers to implementing energy transition measures. The first is lowering energy costs, and the second is developing and implementing a long-term energy efficiency strategy [52]. The authors also point out that more than just an economic factor is needed to make positive energy transformation decisions, especially for low-energy companies, where energy costs are a small part of their costs. Accordingly, other values that favor activities that produce energy transformation should be promoted.

Introducing support policies and incentive initiatives to encourage business owners to use renewable energy technologies will significantly increase renewable energy generation capacity. It is, therefore, necessary to work with various partners, including entrepreneurs, industry organizations, consultants, and energy certification companies, to support energy transition activities. It is also necessary to provide training, advice, and easier access to financial mechanisms aimed at entrepreneurs and to reduce a number of barriers in the process.

Considerations based on the above analysis show that energy cost reduction and a long-term energy efficiency strategy are key motivators. However, other values are needed to convince people to take efficiency measures, especially for companies with low energy efficiency. In this context, the EU’s Energy Transition Regulations reinforce this perspective by forcing innovation, supporting renewables, and creating partnerships. This combination of theory and EU regulations underlines the key role of economic and regulatory benefits in increasing commitment to energy efficiency. In this context, there is interest in the issue of energy transition, highlighting the various aspects, barriers, and substance of the EU’s efforts for micro and small businesses. On this basis, the study’s central hypothesis is as follows:

H1: 

Engaging micro and small enterprises in energy transition is linked to their market and financial success.

3. Research Methodology

Based on a structured and standardized survey questionnaire, this study used the Computer-Assisted Telephone Interviewing (CATI) technique between April and May 2022. The questionnaire consisted of a metric and a main part. The metric contained five questions for characterizing the surveyed enterprises by age, size (measured by the number of employees), type of business, dominant market area, and development phase. The central part of the questionnaire was divided into four thematic blocks. The first related to the competitiveness of the surveyed entities, the second to the degree of compliance of their activities with environmental objectives, the third to barriers to introducing solutions related to environmental goals, and the fourth to changes in market and financial performance related to energy transition.

The study targeted owners of micro and small enterprises operating in Poland. These enterprises met the domestic criteria, employing up to 49 individuals and operating across various industries. The sampling frame was the REGON Register of National Economy, a comprehensive database of companies in Poland. The sample size was set at 1750 companies, with 400 in the primary sample and 1350 in the reserve sample.

The research aimed to obtain a representative sample to enable result generalization. The selection of companies to participate followed a dependent sampling process, meaning that once a population element was chosen, it was not returned to the pool. Every 30th record from the sampling frame, which included a numbered list of all entities in the surveyed population, was selected. The sample selection for micro and small enterprises was random, ensuring an equal probability of inclusion for each sampling unit within the population.

A reserve sample was used when respondents refused to participate in the study or when database records were outdated. Ultimately, 407 completed questionnaires were collected, with 400 remaining after verification to address data inconsistencies.

Given the significant variation in the number of micro and small enterprises in Poland, there was an overrepresentation of small companies in the sample. Post-stratification weighting was applied to align the sample structure with the population concerning employment size to account for this disproportion. These post-stratification weights also considered the varying response rates within the sample. Thanks to the post-stratification weights, micro and small business population generalizations were conducted with a type I error risk of less than 5%. Furthermore, to assess the similarity of the sample structure to the population for critical variables, a random sample test was conducted to verify the randomness of the sample. A series test (the Stevens series test or the Wald–Wolfowitz series test) was used for this purpose. The results of the randomness test for the key variables, which measures company development, competitive advantage, and alignment with environmental goals, confirmed the randomness of the sample, at an assumed significance level of p < 0.05. The sample survey consisted of 400 business entities operating in Poland, comprising 75% microenterprises with fewer than ten employees and 25% small enterprises employing between 10 and 49 employees. Regarding company age, most of the sample represented enterprises operating in the market for 10 to 15 years (36%), followed by those with 5 to 10 years of market presence (31.8%).

Young enterprises with 2 to 5 years of market experience were the least represented, at 8.3%. The largest share of micro-enterprises has operated in the market for 10 to 15 years, while among small enterprises, the majority have over 15 years of market experience (see

Table 1. Characteristics of the surveyed enterprises.

Specification	Enterprises (in %)
	Micro	Small	Total
Age of the enterprise:
- between 2 and 5 years	8.3	0.0	6.2
- over 5 to 10 years	35.3	21.0	31.8
- over 10 to 15 years	38.7	28.0	36.0
- over 15 years	17.7	51.0	26.0
Dominant type of business activity:
- production	12.7	35.0	18.3
- services	62.0	50.0	59.0
- trade	25.3	15.0	22.7
Dominant scope of the company’s market activity:
- local	18.3	4.0	14.8
- regional	41.7	27.0	38.0
- national	38.3	49.0	41.0
- international	1.7	20.0	6.2
Enterprise development phase:
- setting up	0.3	0.0	0.3
- dynamic growth	19.7	19.0	19.5
- stabilization	77.7	81.0	78.4
- declining	2.3	0.0	1.8

Source: own elaboration.

). Regarding the dominant activity type, service and commercial enterprises were prevalent, accounting for 59% and 22.7%, respectively. Regarding market operations, most surveyed entities operated in the domestic and regional markets, with 79% (41% and 38%, respectively), while only 6.2% operated in the international markets.

Respondents also assessed their companies’ developmental stages. The analysis revealed that more than 78.4% of the surveyed entities were in the maturity phase, characterized by a strong reputation, a stable market position, and consistent economic and financial performance. Only 19.5% of the companies were in the dynamic growth phase, while start-up companies represented a mere 0.3%. The distribution of micro-enterprises mirrored that of the entire population. Still, in the case of small businesses, there were fewer entities in the dynamic growth phase and more in the decline and renewal phase.

4. Results

The first research area was the analysis of implemented solutions for improving the energy transition in the surveyed entities in 2019–2021, which shows that the most frequently implemented were energy-efficient machinery and equipment, 82% of the indications, and conducting an energy audit, 72.3%, while the least frequent was the use of hybrid/electric cars, at only 1.2% of the indications. The reasons for this state of affairs should be seen in the limited financial resources of those entities that engage their resources in solutions necessary for their business. As a detailed analysis shows, in the case of micro-enterprises, these were mainly energy-efficient machinery and equipment, and in the case of small enterprises, conducting an energy audit (see

Table 2. Structure of implemented energy transition improvement solutions in the surveyed micro and small enterprises in 2019–2021.

	Enterprises
	Micro	Small	Total
Energy-efficient machinery and equipment	86%	70%	82%
Renewable energy generation	6.3%	49%	17%
Implementation of energy management systems	6.0%	33%	12.8%
Thermal modernization of the building	30%	52%	46.5%
Modernization of lighting	39%	69.3%	61.8%
Conducting an energy audit	35%	83%	72.3%
Monitoring of energy consumption	19%	62%	52%
Energy storage	2.5%	25%	17.5%
Use of hybrid/electric cars	0.7%	3.0%	1.2%

Source: own elaboration.

). This is also confirmed by the Flash Eurobarometer Survey 426, indicating that European SMEs rarely use renewable energy RES [53]. Simultaneously, they commonly employ solutions such as the substitution of lighting, thermal insulation of buildings, adoption of energy-efficient electric motors, harnessing waste heat from production processes, and reducing indoor air temperature. It is important to note the “energy efficiency gap,” a term used in the literature to refer to the incongruity between the potential for energy efficiency and the actual implementation of solutions due to the presence of barriers during the implementation process [17,54].

In the next stage of the conducted analysis of the data obtained in the research process, an attempt was made to answer the question of whether there are dependencies between the variables describing the types of implemented energy transition improvement solutions in the surveyed companies and the characteristics of these entities (see

Table 3. Results of a chi-squared test/Fisher’s test for the relationship between implemented energy transition improvement solutions in the surveyed micro and small enterprises and the characteristics of these entities.

	Characteristics of the Surveyed Enterprises
	Age		Dominant Type of Business Activity		Dominant Scope of the Market Activity		Development Phase
	χ2 *	p **	χ2 *	p **	F ***	p **	F ***	p **
Energy-efficient machinery and equipment	15.798	0.001	6.627	0.036	3.969	0.265	43.675	<0.001
Renewable energy generation	15.828	<0.001	11.444	0.003	4.682	0.197	5.065	0.167
Implementation of energy management systems	14.220	0.003	1.053	0.591	4.705	0.195	4.580	0.205
Thermal modernization of the building	1.188	0.756	0.585	0.746	4.094	0.251	5.901	0.117
Modernization of lighting	5.944	0.114	7.786	0.020	1.176	0.759	4.725	0.193
Conducting an energy audit	0.240	0.971	7.778	0.020	3.896	0.273	5.924	0.150
Monitoring of energy consumption	5.387	0.146	11.068	0.004	3.062	0.382	5.091	0.117
Energy storage	2.753	0.431	2.846	0.241	5.824	0.121	8.954	0.030
Use of hybrid/electric cars	2.928	0.403	2.465	0.292	13.345	0.004	0.103	0.991

* chi-squared statistic, ** level of statistical significance, *** Fisher’s statistics—unfulfilled assumption of the chi-square independence test so that the expected counts in all contingency table cells are greater than or equal to 5. Source: own elaboration.

). A chi-squared test of independence or Fisher’s test was used to assess the statistical significance of those dependencies. The chi-squared test of independence showed significant differences in the implementation of energy transition improvement solutions for the age of the surveyed enterprises: energy-efficient machinery and equipment, renewable energy generation, and implementation of energy management systems. Most such solutions have been implemented in enterprises operating in the market for 6 to 10 years and more than 15 years. Analyzing the predominant type of activity, respondents’ answers varied in the case of monitoring energy consumption, most often indicated by manufacturing companies, and in the case of the predominant market reach, respondents’ answers varied for the use of hybrid/electric cars operating in a predominantly domestic market. On the other hand, analyzing the phase of development, it turned out that only in the case of energy-efficient machinery and equipment were the results differentiated, that is, most often indicated by entities in the stabilization phase.

The market and financial situation of the surveyed entities over the past three years (2019–2021) were then analyzed. Changes in this situation were assessed using an index consisting of 8 items, each measured on a 5-point Likert scale, where 1 meant a significant decrease in a given measure, 2—a slight decrease, 3—no change, 4—a slight increase, and 5—a significant increase. In the case of measures describing the market situation, a slight and significant increase was recorded in the number of customers 44.6% and an improvement in condition compared to the competition 41.1%, while in the case of financial measures, revenue volume was 42.8% and profit 37.3% (see

Table 4. Assessment of the company’s market change and financial situation in 2019–2021.

Changes in the Market and Financial Situation of the Firm	Assessment *
	1	2	3	4	5
Revenue volume	0.0%	16.7%	40.5%	41.0%	1.8%
Profit	0.0%	20%	42.8%	35.8%	1.5%
Market share	0.0%	16%	47.5%	34.8%	1.8%
Number of customers	0.0%	16.8%	38.8%	42.8%	1.8%
The condition of the company compared to the competition	0.0%	18.0%	41%	39.3%	1.8%
Effectiveness of strategic actions	0.3%	24.5%	41%	33%	1.3%
Implementation of innovations	0.0%	14.8%	52%	32%	1.3%
Financial liquidity	0.0%	13.8%	53.8%	30.8%	1.8%

Source: own elaboration. (-) 0.0% (*) 1—meant a significant decrease in a given measure, 2—a slight decrease, 3—no change, 4—a slight increase, and 5—a significant increase

).

For further analysis, changes in the company’s market and financial situation in 2019–2021 will be measured in aggregate. This is possible due to the very high reliability of the scale—the coefficient of Cronbach’s alpha coefficient has a value of 0.904. In assessing the accuracy of this indicator, exploratory factor analysis was used. The analyzed statements show correct relations from this method’s point of view; Bartlett’s sphericity test is significant (p < 0.001). The Kaiser–Mayer–Olkin (KMO) index is 0.896, while Bartlett’s test of sphericity took the following values: approximate value χ² = 4180.539, number of degrees of freedom (df) = 28, and significance level p < 0.001. The values of these statistics allow further procedure of factor analysis. Next, the number of factors of the created index was determined based on the Kaiser criterion (according to this criterion, dimensionality is determined by the components in which the eigenvalues exceed 1. In this case, such a situation occurred only in the case of one component, explaining almost 85% of the variance, proving the created index’s unidimensionality. The analysis of the values of individual factor loadings showed that they all obtained a reference value above 0.5. Thus, measuring the change in the company’s market and financial situation in 2019–2021 can be carried out based on the eight variables.

A summary measurement of the company’s market–financial situation change in 2019–2021 will be made based on a variable (SFR), which is determined as the sum of scores for all eight sub-questions. This variable can take values from 8 to 40, with higher values indicating positive changes in the market–financial situation of the enterprise as a result of energy efficiency improvement solutions. Analysis of this indicator showed that the changes in the market–financial situation of the enterprise in 2019–2021 are significant or unchanged; the average score obtained is 25.7, with a possible maximum of 40. Only five enterprises recorded the highest score of 40 points; more than 52% of the sub-entities obtained several points below the average. Many factors can cause such a situation: external, e.g., the crisis related to the COVID-19 pandemic, and internal, e.g., the lack of a clearly delineated strategy for operation and development, and resource shortages.

The next stage of the analysis focuses on whether there is a relationship between the implemented changes in the energy transition hijack in 2019–2021 and the market and financial situation analyzed during the same period. A nonparametric Mann–Whitney U test was used to assess this relationship due to the analyzed variables’ measurement level. The test results (see

Table 5. Mann–Whitney U test results.

	Statystyka U	p-Value *
Energy-efficient machinery and equipment	11,063.500	0.397
Renewable energy generation	9496.500	0.037
Implementation of energy management systems	8179.000	0.345
Thermal modernization of the building	19,017.000	0.438
Modernization of lighting	17,229.500	0.134
Conducting an energy audit	19,093.000	0.444
Monitoring of energy consumption	13,187.000	0.005
Energy storage	8345.000	0.001
Use of hybrid/electric cars	509.000	0.060

* level of statistical significance. Source: own elaboration.

) showed no significant differences in the change in the market–financial situation of the analyzed companies, which implemented and did not implement seven of the nine analyzed solutions for improving the financial–market situation during the period under study. Only in implementing such solutions as monitoring energy consumption and energy storage did it turn out that there are significant differences in the change in the market–financial situation in the case of enterprises that have and have not introduced these solutions.

5. Discussion and Conclusions

The culmination of our study in the energy transition sphere, mainly focusing on the role of micro and small enterprises, has brought forth several critical insights and implications. The journey began with a deep dive into the historical context of energy transition, tracing back to global efforts against climate change. This historical backdrop is crucial as it sets the stage for understanding the energy transition’s current dynamics and challenges. The seminal moments in this journey, such as the Rio de Janeiro Conference of 1992, the Kyoto Protocol of 1997, and the Paris Agreement of 2015, have been instrumental in shaping the global and European agendas on climate change and sustainability. These international commitments have highlighted the urgency of addressing climate issues and laid the groundwork for policy frameworks within which micro and small enterprises operate today.

The concept of stakeholder capitalism, mainly influenced by the work of Klaus Schwab [55], emerged as an essential background in our study. The approach challenges conventional profit maximization models by emphasizing the balance between economic returns and social and environmental responsibility. We found that the concept increasingly resonates with companies, especially SMEs, as they navigate the complexity of energy transition. The integration of stakeholder capitalism into micro and small enterprises’ business models signifies a transformative shift in how companies view their role in society and the environment. This shift is not just a theoretical construct but is practically implemented by companies as they seek to balance profit making with broader social responsibilities.

Our empirical analysis centered on understanding the extent to which micro and small enterprises are involved in the energy transition and how this involvement impacts their market and financial performance. We discovered a substantial engagement of micro and small enterprises in adopting energy-efficient practices, such as using energy-efficient equipment and conducting energy audits. These findings are not just numbers but reflect a proactive stance among micro and small enterprises towards energy efficiency and sustainability. The significant adoption rates of these practices indicate a conscious effort among micro and small enterprises to align their operations with broader energy transition goals. Furthermore, our study revealed a clear relationship between the characteristics of micro and small enterprises and their chosen energy efficiency measures. This relationship is vital as it suggests that micro and small enterprises are not merely adopting energy efficiency measures at random but are strategically aligning their energy transition activities with their specific business contexts and needs.

The statistical analyses, mainly using the Mann–Whitney U test, unveiled significant relationships. These relationships were observed between implementing specific energy efficiency measures, such as renewable energy generation, energy consumption monitoring, and energy storage, and improved market and financial performance in micro and small enterprises. This positive correlation is a robust endorsement of our hypothesis that micro and small enterprises’ involvement in energy efficiency improvements is closely associated with favorable market and financial outcomes. The implications of these findings are multifaceted. For micro and small enterprises, it reinforces the value of integrating energy transition initiatives into their business strategies. For policymakers, it underscores the importance of supporting micro and small enterprises in their energy transition efforts, as these contribute to broader climate goals and enhance economic vitality.

This study also opens several avenues for future research. One key area is exploring the causality between energy efficiency measures and financial outcomes. Understanding this relationship’s directionality is crucial for policy formulation and business strategy development. Another area is cross-industry comparisons to understand how different sectors respond to and benefit from energy transition. Such comparisons could provide nuanced insights into sector-specific challenges and opportunities in the energy transition landscape. Additionally, investigating the role of emerging technologies like artificial intelligence (AI), the Internet of Things (IoT), and blockchain in supporting energy transition in micro and small enterprises could offer a fresh perspective. These technologies are rapidly transforming business landscapes, and their potential to facilitate energy transition in micro and small enterprises is an area ripe for exploration.

In a broader societal context, our research emphasizes the crucial role of micro and small enterprises in reducing environmental impacts and contributing to sustainable practices. This aspect is particularly relevant in the face of global ecological challenges. Micro and small enterprises, by their sheer number and cumulative effects, can significantly drive sustainability and environmental conservation. This societal significance extends beyond compliance with environmental standards to a more integrated approach where environmental stewardship becomes a core aspect of business operations.

Furthermore, the study has specific implications for the Polish economy and provides insights into economic policy. The key finding that micro and small enterprises play a substantial role in achieving energy transition goals is particularly relevant for emerging economies and countries in transition, like Poland. Their ability to adapt, innovate, and be flexible in response to changing economic and environmental conditions is valuable. This finding suggests that economic policy should focus more on supporting these enterprises by encouraging them to continue investing in energy efficiency and providing them with the necessary tools and incentives. The study also found that the choice of energy efficiency actions is closely linked to the type of economic activity. This finding has important policy implications, suggesting that government policy should be flexible and tailored to the diverse needs and characteristics of different sectors of the economy.

While providing insightful findings on the involvement of micro and small enterprises in the energy transition within Poland, this study acknowledges certain limitations. Primarily, the geographic scope of our research was confined to Poland. This limitation is significant as it restricts the generalizability of our findings to other contexts and regions. Different countries may have varied economic, cultural, and regulatory environments that could influence the involvement of micro and small enterprises in energy transition differently. Additionally, the static nature of our study, focused on a single research period, presents another limitation. The dynamic and evolving landscape of the energy transition and business practices means our results capture a snapshot in time and may not fully reflect ongoing developments or future trends in this field. Future research could address these limitations by incorporating longitudinal studies and expanding the geographic scope to include diverse economic and cultural contexts.

In conclusion, our study has provided practical insights for micro and small enterprise owners, managers, and entrepreneurs and laid the groundwork for further academic research. It holds a broader societal significance in global ecological challenges, emphasizing the role of micro and small enterprises in reducing negative environmental impacts and contributing to sustainable business practices. The study’s findings can inspire new initiatives, support programs, and evidence-based approaches, helping to accelerate the transformation toward a more sustainable economy. Therefore, conducting such research should remain a priority for academia, business, and policymakers to achieve a better future for our planet and future generations.

Key Achievements of the Study:

• Historical and theoretical foundations: Traced the evolution of energy transition policies from their historical roots and examined the growing influence of stakeholder capitalism in micro and small enterprises’ strategies for energy transition.
• Empirical insights and strategic correlations: Presented robust empirical evidence of significant engagement of micro and small enterprises in energy transition, highlighting a strategic alignment between their business characteristics and chosen energy efficiency measures.
• Statistical validation and practical implications: Used advanced statistical techniques to establish a positive correlation between energy transition engagement and market success, providing valuable policy and business strategy insights.
• Future research and societal impact: Outlined a roadmap for future research, including causality studies and cross-industry comparisons, while emphasizing the broader societal and economic relevance of the study, especially in the context of global ecological challenges and sustainable practices.
• Policy recommendations and academic foundation: Offered tailored policy recommendations for the Polish economy and established a foundation for further academic research into the role of micro and small enterprises in energy transition.

These key achievements encapsulate the essence and impact of our research, highlighting its significance in business practice, policy making, and academic study. The study contributes to a deeper understanding of energy transition among micro and small enterprises and catalyzes further exploration and innovation in this vital field.