Hungarian businesses do not innovate due to a lack of capital
55 percent of domestic enterprises did not introduce an innovation process in the last two years, the main reason for which was the lack of capital, according to a recent survey by Billingo, an online invoicing company. Among the users of the innovation, individual entrepreneurs were the vanguard, followed by limited companies, and the areas of application were mainly HR and decision-making, logistics and corporate management. And it is perhaps not surprising that the focus of the innovations was to increase efficiency.
In Billingo’s latest research, it examined the attitude towards innovation among its users. The results of the research shed light on the difficulties that domestic enterprises may face when they want to introduce some new, different process from the previous ones, whether the reason for this is cost efficiency or the lack of labor. Those who voted in favor of the introduction, in most cases, did not regret it, in fact, they are already thinking about the next development.
Every other company just jumped in
In the past two years, 46 percent of the participants in the survey decided to support their own processes with some kind of innovative solution for the sake of efficiency. Furthermore, it was also revealed that the most innovative were the individual entrepreneurs who are primarily active in the field of commerce or providing engineering services, in the field of education, and in the IT field.
“These results are not surprising, since the most important thing for individual entrepreneurs is to be able to increase their efficiency, if possible, without involving human resources. At the same time, they have the shortest decision-making process, they act quickly if a situation calls for it”
– said Szabolcs Bestró, strategic and operational director of Billingo.
Related news
KSH: industrial production fell by 8.2 percent in June
In June 2024, the volume of industrial production was 8.2…
Read more >In the second quarter, GDP grew by 0.3 percent in the euro area and in the EU on a quarterly basis
In the second quarter of this year, with a seasonal…
Read more >There is a lot of uncertainty among SMEs
The Economic and Business Research Institute’s (GVI) Quarterly Economic Index…
Read more >Related news
A new office responsible for food safety and retail trade can be established under the leadership of Márton Nagy
A new top organization called the National Trade Office could…
Read more >K&H: Almost two-thirds of businesses are planning development
The majority of domestic micro, small and medium-sized enterprises, 61…
Read more >KSH: industrial production fell by 8.2 percent in June
In June 2024, the volume of industrial production was 8.2…
Read more >