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Hungarian SMEs tend to avoid summer shutdown

Domestic businesses tend to avoid summer breaks, with nine out of 10 Hungarian small and medium-sized enterprises (SMEs) avoiding a shutdown during the vacation season, K&H Bankʼs latest SME confidence index survey reveals, news portal vg.hu reported Thursday.

If an SME does take a break, it typically lasts up to a week and usually affects the entire company, the survey shows. The overwhelming majority (82%), however, have never had a summer break. These businesses have no future plans to shut down for reasons such as maintenance or holidays.

The research also highlights that companies that have had downtime in the past are most likely to close down the entire company (67%). In the case of companies that shut down only in the summer, the break usually lasts up to one week (43%), although some companies (14%) opt for a full monthʼs break.

Apart from the summer months, firms that shut down at other times usually do so in December, during the winter holidays.