Crisis-resistant SMEs: momentum persists despite challenges

By: Trademagazin Date: 2026. 04. 08. 10:52

🎧 Hallgasd a cikket: Nyelv: Sebesség: 1.05×

The expectations of the domestic SME sector are more nuanced compared to the previous quarter, but still more optimistic than at the beginning of last year – according to the latest research data from the K&H SME Confidence Index measured in the first quarter of 2026. The index shows the economic expectations for the coming year based on the feedback of 400 domestic small and medium-sized enterprises. According to the latest research data, larger businesses are currently slightly more optimistic than smaller ones.

The K&H SME Confidence Index, which examines the economic expectations of Hungarian micro, small and medium-sized enterprises, changed from -4 points at the end of last year to -8 points in the first quarter of 2026. Although the indicator is still in the negative range, its value is exactly the same as it was a year and a half ago, and at the same time the average value of the past 4 years, around which the index has fluctuated since 2022.

“Small and medium-sized enterprises are the key players in the Hungarian economy. Data from the Central Statistical Office According to the data, SMEs generate 41.2% of the added value of enterprises and 65% of the country’s employees work for SMEs. The sector is strong: thanks to the flexibility and rapid adaptability of companies, they can remain resistant to external influences. We think together with enterprises as partners and help them develop, with easy and fast banking, a business community and free online learning materials”

– added Zoltán Rammacher, Marketing Manager of the K&H Retail and SME Segment.

Businesses can be classified into three groups based on annual revenue: between 20-100 million forints, between 101-300 million, and between 301 million-2 billion forints. Microenterprises have lower expectations for the next 12 months (-11 points), while small and medium-sized companies are uniformly more optimistic: they are above the average of the overall index, at -4 and -3 points, respectively. However, in terms of the long-term trend, one of the lowest differences between the expectations of the largest and the smallest was still measured.

At the regional level, the sentiment among businesses in the Eastern region is the most optimistic with -1.5 points, which is a 2-point increase compared to the previous quarter and is closest to neutral, to zero, while in the western region the index is at -4.5 points and in Central Hungary it is at -12.1 points. The sub-indices also show the sector’s adjustment points well: expectations related to customers and the EU are in a positive range, the former with +8.1 and the latter with +4.9 points.