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Development of Small and Medium-Sized Enterprises in Hungary

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  • Tamás Novák

Abstract

This paper aims at giving a snapshot on the major trends of SME development in Hungary. After a brief historical background, the focus is put on the current changes taking place in the Hungarian enterprise policy. A major transformation is underway in the SME financing as a result of the substantially increasing EU funds available for enterprise development. This process is also supported by the favourable competition policy rules applicable for the SME sector in the EU. These changes are also supported by the increasing competition between commercial banks for financing possibilities, the target group of which policy is the SME sector. Besides, the concentration of the SME support system with the aim of increasing effectiveness of state subsidy for SME sector is also carried out.

Suggested Citation

  • Tamás Novák, 2007. "Development of Small and Medium-Sized Enterprises in Hungary," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 115-125.
    • Handle: RePEc:bas:econst:y:2007:i:1:p:115-125
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    References listed on IDEAS

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    1. World Bank & International Finance Corporation, 2006. "Doing Business in 2006 : Creating Jobs," World Bank Publications - Books, The World Bank Group, number 7421.
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    More about this item

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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