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Jul 20, 2020

Government to launch new HUF 2 billion scheme to support SMEs

From August 3, SMEs looking to build their brand abroad, prepare smaller investment projects or set up online distribution channels will be invited to bid for a maximum of HUF 50 million in government support.

 

The Hungarian government is launching a new HUF 2 billion (EUR 5.7m) scheme to support small and medium-sized businesses.

Péter Szijjártó, Minister of Foreign Affairs and Trade, announced that from August 3, SMEs looking to build their brand abroad, prepare smaller investment projects or set up online distribution channels will be invited to bid for a maximum of HUF 50 million in government support.

The minister added that the new era of the global economy set to emerge from the coronavirus pandemic presents both challenges and opportunities to countries like Hungary that rely heavily on exports. This is why the government has decided to launch a new support scheme for Hungarian SMEs that can take advantage of the new era and be successful on foreign markets, he said.

Photo credit: Facebook - Péter Szijjártó