Business infrastructureEconomy & Policy

HUF 2.6 trillion is now available for SMEs

HUF 587 billion of development funds were added for SMEs to restart after the epidemic.

HUF 2 trillion in state-subsidized soft loans and capital construction will be added to the HUF 587 billion of SMEs, László György, State Secretary for Economic Strategy and Regulation at the Ministry of Innovation and Technology, said. 

The toolbox of business development has been renewed, thanks to which the government can help as many companies in 1.5 years as the development policy has achieved in the last 30 years, György said. 

He highlighted that the business development program is now starting, and the first HUF 100 billion tender will be announced on Friday. The time to process investment incentive applications has been reduced to 45-60 days from the previous 3-5 months, and companies can receive 100 percent of the grants as advance payment.

The ministry also helps businesses to spend resources as efficiently as possible on the technologies of the future. This is the only way to preserve jobs and create new ones and increase wages, the secretary of state said.

Anyone who does not invest in digitization now is lagging behind. The government has been pursuing a patriotic policy since 2010, which means that it helps all businesses that see Hungary as their home.

László György reminded that after the restart, the Hungarian economy will return to a changed world economy, and self-sufficiency will be achieved in many areas.

The ministry also intends to provide personalized assistance to 500,000 domestic companies through the vali.hu website, László György pointed out, to help companies use resources as effectively as possible. 

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