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Economy ministry launches HUF 10 bln grant program for small businesses

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The Ministry for National Economy Ministry will invite applications for HUF 10 billion in grant money to support investments at microbusinesses and SMEs from the start of August, Mihály Varga, who heads the minstry, told Hungarian news agency MTI.

The funding will support the creation of more than 5,000 jobs, while preserving some 10,000 workplaces, at 1,100-1,200 businesses, Varga said. The funding aims to support the convergence of disadvantaged regions and strengthen local businesses, he added.

Applications for the funding will be accepted from August 1 until September 15. Grant winners must complete their investments by September 30, 2018.

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