Young Entrepreneurs Association: only 27 percent of Hungarian entrepreneurs can be considered young

Twenty-seven percent of the Hungarian entrepreneurs belong to the age group under 40 years, only they can be considered as young entrepreneurs, however, there are 19 thousand companies can be found in the country, with an over a 65 years old owner – the president of the Young Entrepreneurs Association (Fivosz) told M1 news channel on Thursday.

Kovács Patrik believes that the next 10 years will be critical in terms of the Hungarian economy,because most of the Hungarian enterprises, especially the small and medium-sized enterprises (SMEs) were established after the regime change. The owners of these companies are close to retirement age. In order to solve the situation more young (18-40 years old) entrepreneurs would be needed and generational change would be necessary – he added. (MTI)