SMEs can modernise the technology they use from a bigger budget

From the recently started European Union funding schemes, those enterprises can profit the most which plan to invest in technological modernisation: instead of the originally declared HUF 5 billion they can get financing from a HUF 8.5-billion budget. There is bad news too: SMEs will have a HUF 1.5-billion financial framework available to them for entering foreign markets instead of the previously planned HUF 5 billion. The government will announce 9 new funding programmes in the next few weeks with a framework budget of HUF 120 billion. Typically 50-65 percent of a project’s value has to be financed from own resources. Businesses which don’t have adequate own resources to apply can use the solutions offered by various banks.