Let’s do business in Hungary

Do you do business in Slovakia or are you going to do a business, but you don’t not like the excessive bureaucracy or high business tax in Slovakia? What about to start a business in the neighboring country – e.g. in Hungary. The corporate tax rate is 9% (compared to our 21%) and the setting up a business is fast and unpretentious process thanks to the electronical communication with authorities. Moreover, you no longer have to worry about entering the Hungarian market because of the language barrier. So, what do you think? Are you in but you don’t know how and where to start? Let’s participate on pilot workshops of the Crossing Bridges with the Help of Ambassadors’ (CORD)’ project, organized by the Association of Lecturers and Careers Advisors (ALKP) along with project partners. Pilot workshops are the tangible outcome of the CORD project implemented the Interreg V-A Slovakia-Hungary Cooperation Programme.

Support of cross-border cooperation between public authorities and people living in the border area is the official goal of the Slovak-Hungarian project called Crossing Bridges project with the Help of Ambassadors (CORD) implemented under the Interreg V-A Slovakia-Hungary Program. Throughout this project, the bridges are crossed, not only in the imagination, but in the reality as well. 

The pilot workshop - Let’s do business in Hungary – as one of the project activities was the reflection of it. Organized by Association of Lecturers and Career Advisors (ALKP) in the cooperation with project partners, the workshop took place on 12th of June 2019 in Veľký Krtíš. The workshop was held in the Banská Bystrica self-governing region, one of the cross-border regions, in order to provide participants with as much information as possible with regards to penetration to the Hungarian market.
ALKP has welcomed the participants and presented the project as well as its activities with the special focus on project outcomes due to their importance for entrepreneurs, potential, start-up and existing, as well as general public to understand and help out doing business in Hungary. An online guide was introduced with institutes and organizations providing support services for those who are interested going abroad, namely to Hungary, but also a video tutorial, and a How to do business in Hungary manual, which will take them step by step throughout the process of preparing and setting up business in Hungary.

The content of the above-mentioned manual was taken as a basis for the interactive workshop’s content. The workshop was led by well-trained high quality lecturer. The participants had have learned not only the benefits of doing business in Hungary, but also what they need to know and do before entering the Hungarian market, what to watch for and what are the most common mistakes of start-ups. 

They were guided step by step through the implementation phase of setting up a business in Hungary, i.e. basic essentials for the establishment of a company - forms of business, selection of subjects of activity and the name of the company, headquarters (virtual vs. physical address), basic capital, signature of documents, etc. ..., but also what to do after establishing a company.

The workshop was enriched by the practical experience of the lecturer, who has been working in the field of setting up companies in various countries for a long time. He provided participants with many examples and comparison of different countries. On that base, he was able to recommend or not recommend entering a foreign market when that kind of question came/arisen from the from the audience. It turned out that the participants, the existing, as well as potential entrepreneurs are very much interested in foreign markets, namely Hungarian, and that they appreciated the rich experience of the lecturer.

In addition, the lecturer, Branislav Príbojský, was not an original lecturer. He has been nominated and few days before even certificated as the CORD ambassador. The synergy effect brought the workshop to the highest possible level with added value for participants. The potential institutional support of the target group promoted by the CORD ambassador was linked with the project activities and outcomes, and reinforced by the practical workshop’s content.
And the result? Participants left with practical information ready to enter the Hungarian market.

More info on the project

Website of the project