The number of Hungarian businesses is decreasing

By: Trademagazin Date: 2024. 06. 19. 08:38

The number of Hungarian businesses is decreasing, i.e. terminations and liquidations exceed the number of newly founded companies, which may be due to insufficiently careful business planning or even inefficient work processes – according to Billingo, one of the most commonly used domestic companies developing online invoicing programs from his summary.

According to Billingo’s domestic research, few company managers and business owners still use artificial intelligence for business planning and to make their financial processes more transparent, although in most cases they are freely available tools that can be used to uncover many problems, but without it, it is easy to close or very only the road can lead to slow growth.

According to Opten 2024 data, the number of operating social enterprises fell below 515,000 in February, and the number of company closures may reach 40,000 by the end of the year. This spring, too, the trend emerged that the number of newly founded companies showed a strong decrease compared to the number of terminations and liquidations.

Artificial intelligence can lighten the load

According to Billingo’s research among 1,000 domestic companies, although the respondents generally speak positively about artificial intelligence, a large proportion still only use these tools in creative fields (text writing, image creation, graphics creation) and little is taken into account that they are effective help even in data analysis can be – 34 percent of the respondents use only this function.Szabolcs Bestró, Billingo’s strategic director, said:

“Enterprises could rely on these artificial intelligence-based applications for data analysis, information search, and even business plan analysis. We see that although most companies are on a digital development path, their growth will require putting artificial intelligence into the battle line”.