HUF 200bn in EU funding for Hungarian SMEs

Minister of Economy and Transportation Janos Koka said that Hungary will have access to HUF 1,500bn (EUR 5.92bn) in EU economic-development funding over the next few years, including HUF 200bn connected to the Jeremie programme, which is designed to provide support for SMEs.

Bankruptcy wave in the construction industry

The Hungarian construction industry is facing a steep downturn after the large boom of 2001-2005 created by the government  housing loan subsidies, rapidly increasing real wages and the generous government spending on infrastructure projects.

SMEs continue to improve in May

Sentiment at Hungary's SMEs continued to improve in May, following a trend started in February, according to the latest measure of SME confidence by Ecostat.

Ko'ka calls for micro credits

According to the Economy Minister Janos Koka, the micro-credit scheme must be made more popular and more easily accessible as 80% of Hungarian businesses are managed without a loan, while in developed countries this rate is only 15%-20%.

Start Tokegarancia to offer SMEs guarantees on bank guarantees

Start Tokegarancia, a guarantor set of by the Hungarian Business Development Foundation and state-owned investment company Corvinus a year ago, has started offering small- and medium-sized enterprises (SMEs) guarantees helping them to apply at EU tenders, Start Tokegarancia managing director Gabor Szakall told.

Hungarian SMEs are less pessimistic

The uncertainty caused by last year's austerity measures was felt until October, 2006, since that low point, the business confidence increased, but the optimism is still relative.