The findings show a clear correlation between company size, financial service needs, and digital maturity.
The research revealed that most SMEs expect modest growth in the coming years, but also cite rising energy and raw material prices, increasing wages, and the broader economic climate as major challenges. Smaller businesses, particularly KATA-registered and microenterprises, remain the most pessimistic and tend to plan only in the short term.
The study also examined SME banking habits over the past five years. Nearly all respondents (97%) use a business current account, and 78% have a business bank card, commonly used for IT, telecommunications, maintenance, and travel expenses. Larger firms often supplement with foreign currency accounts, bank guarantees, and insurance services, helping them manage risk and operate internationally. While cash is still common among smaller firms to ensure quick liquidity, digital transactions dominate at larger businesses, where cash usage is steadily declining.
Interestingly, 70% of SMEs reported visiting a bank branch in the past three months, indicating the continued importance of in-person service. This points to a gap in digital banking services for SMEs, particularly for complex tasks such as account setup or loan applications. The report also found that, like Hungarian consumers, many SMEs are slow to switch banks, even if they’re dissatisfied.
Among “Beyond Banking” services, integrated invoicing tools and cybersecurity solutions are the most widely used, while CRM and travel services remain less known.
As company size increases, so does digital maturity. Kata (Itemized tax for small taxpayers) entrepreneurs mostly use social media for promotion and online booking tools. Microbusinesses are increasingly hiring experts and willing to invest—albeit cautiously—in digital tools. Small businesses typically have a full digital toolkit, including smartphones, laptops, and custom software. For them, digitalization means more than purchasing hardware: it involves integrated systems that support operations. Medium-sized enterprises see digitalization as a strategic priority, investing in cybersecurity, intranet systems, and internal IT training to improve digital skills across their workforce.
The research also underscores that slow digital progress often stems from a lack of accessible, tailored services.
“At Mastercard, we focus heavily on supporting the SME segment in Hungary. These businesses are the engine of the Hungarian economy and play a vital role in growth and competitiveness. That’s why Mastercard is committed to supporting them in the digital transition—whether that means cybersecurity solutions, educational programs, or discounted services. Our belief is simple: if SMEs win, everyone wins,” said Annamária Tóth, senior product specialist at Mastercard.
The study surveyed 1,209 Hungarian SMEs—defined as companies with annual revenues under HUF 20 billion or fewer than 250 employees—across sectors, regions, and sizes. Data was collected via phone and online between October 17 and November 19, 2024.
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