Hungarian furniture maker Frontalit on Thursday inaugurated a HUF 349 million investment supported by the Demján Sándor Program for scaling up local SMEs, MTI reports. Frontalit purchased equipment and vehicles and organized training programme for employees at its base in Vásárosnamény (E Hungary). Half of the project cost was covered by a matching support scheme […]
The Energy Ministry on Thursday announced the launch of a HUF 38.7 billion interest-free credit scheme to support energy efficiency improvements at microbusinesses and small and medium-size enterprises. Businesses may apply for between HUF 10 million and HUF 500 million of the credit for investments that cut utilities bills by at least 30%. Investments in […]
Business association VOSZ (Confederation of Hungarian Business) announced this Friday the launch of a program to promote links between multinationals and local SMEs. VOSZ's MutliMentor Program involves a screening element to ensure suitability, a mentoring scheme to help potential suppliers meet certification and financial requirements for supplying multinationals, and a networking component. VOSZ will match […]
Employment in the small and medium-sized enterprise (SME) sector is stable, and 7 out of 10 of the companies concerned are preparing to raise wages, by an average of 9%, K&H said on Wednesday, based on its latest SME Confidence Index research. They added that the survey indicates the expectations of micro, small and medium-sized […]
The Budapest Stock Exchange (BSE) has supported the development of 255 Hungarian-owned medium-sized companies with a total of HUF 2.1 billion through its mentoring program, BSE announced on Wednesday. The statement recalled that the BSE's program for the development of the small and medium-sized enterprise sector was launched in 2018 with EU funding. The mentoring […]
95% of small and medium-sized enterprises have external sources of finance, 67% of which are bank loans, the Macronóm Institute said, according to its latest corporate research. It was highlighted that 52% of companies received an advance from the Hungarian Development Bank or the EU, 37% received funds from the Growth Loan Program and 35% […]
Magyar Telekom's Digitalization Consulting Program for SMEs will be launched in March, providing management consulting, online marketing consulting, financial and legal support, tailored to the needs of SMEs, the operator told MTI on Monday. With the service, which is available free of charge, Telekom aims to support the digital transformation of businesses so that they […]
Shortage of raw materials has closely caught up with labor shortages among the factors hindering the operation of firms, with 26% of small and medium-sized enterprises (SMEs) struggling with the former and 33% with the latter in the first three months of this year, according to the first quarterly results of the K&H SME Confidence […]
UniCredit has entered into a COVID-19 support package offered by the European Investment Fund (EIF) allowing the bank to provide working capital loans to CEE SMEs and mid-caps guaranteed by the EIF at a rate of 80% (previously 50%) under simplified eligibility criteria. The new measures extend the application of the InnovFin guarantee also to […]
