Hungarian companies abroad: for the time being, few of them cross the border

Only a fifth of the domestic micro, small and medium-sized enterprises carry out export activities and the proportion of new players entering the foreign market is also low – according to Budapest Bank ’s research carried out among 500 companies – although foreign sales significantly increase revenues: on average, the quarter of the turnover comes from foreign operations.

While the presence of foreign competitors increases in the domestic market, most of the Hungarian companies do not attempt to compensate this with cross-border expansion. First of all because they believe that their products, services are not exportable or because they consider themselves too small. However, according to the survey, the size of enterprises is not decisive in entering to foreign markets.