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30 Hungarian SMEs awarded grants

Trade

Minister of Foreign Affairs and Trade Péter Szijjártó yesterday presented certificates awarding 30 Hungarian SMEs grants to promote exports, according to origo.hu.

The companies are among 46 awarded HUF 2 billion in funding earmarked to support brand-building abroad, preparations for small investments and establishing online sales channels.

SMEs could apply for up to HUF 50 million in the scheme organized by the Ministry of Foreign Affairs and Trade in cooperation with the Hungarian Export Promotion Agency (HEPA).

János Kóka, a former liberal Free Democrat (SZDSZ) economy minister who heads of one of the recipients, Cellum, which develops mobile payment solutions, said Hungaryʼs market is small, which is why local software developers need to find their place on the global market.

At the same time, their lack of resources make them easy acquisition targets, which is why they are in need of state support, he added.

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