Subsidy Scheme Aids Over 1,000 Small Business Startups

Ecosystem

A HUF 6 billion subsidy scheme launched by the government in the summer has helped Hungarians launch 1,040 small businesses, state secretary for employment policy Sándor Czomba told public media on Wednesday.

Under the Business Start II program, applicants could get up to HUF 4.5m in grant money to cover startup costs, including HUF 3 mln for payroll and HUF 1.5 mln for additional costs.

Over 10,000 applications for the support were submitted, Czomba said.

Applicants were required to enroll in a 90-hour entrepreneur training course and participate in six hours of consultations before submitting a business plan for consideration.

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