Investments are expected to return to the levels of a year ago.Continue reading
Hungary will launch a HUF 9B (EUR 23.4M) program called “Every Business Should Have Its Own Website” in February 2025, to boost the digital presence of small enterprises. Announced in Budapest, this initiative forms part of the Sándor Demján Program and aims to strengthen economic competitiveness through digitalization.
The program offers businesses non-refundable vouchers worth between HUF 400,000 (EUR 1,040) and HUF 1.5M (EUR 3,900) to develop websites, social media platforms, and digital content. Richárd Szabados, Secretary of State for Small and Medium-sized Enterprises (SMEs) Development, stressed the importance of digital transformation:
automation is one of the most important foundations of competitiveness. A digital presence is inevitable.”
The initiative complements other programs like the Széchenyi Card Program (incentive for employees), which recently reduced investment loan interest rates to 3.5%, and a HUF 100B (EUR 260M) capital financing scheme.
The program targets 10,000–13,000 businesses in Hungary that lack active online platforms. Eligible participants include micro and small enterprises, sole proprietorships, and cooperatives without public debt and employing at least one person. Service providers, such as ICT (Information and Communications Technology) companies and web developers, can also apply to participate, with applications open between December 11, 2024, and January 10, 2025.
Hungary lags behind the EU in online business presence, with 66% of businesses with websites and 43% using social media, compared to 78% and 60% in the EU.
“Businesses need to be present in the online space to attract new customers and improve productivity,” Mr. Szabados emphasized.
The program reflects Hungary’s commitment to bridging the digital gap and empowering small enterprises to thrive in the global market.
Via MTI; Featured Image: Pixabay