Gov't to support SME capacity expansions
The government called a tender with an allocation of HUF 13.7 billion to support micro-, small and medium-sized businesses increasing headcount and expanding production capacities, state secretary of the Innovation and Technology Ministry Sandor Bodó said on Monday, according to a report by state news wire MTI.
The grant will be available to SMEs operating in Hungary's less developed regions, outside of Budapest and Pest county, he said. To be eligible, applicants have to undertake to increase headcount by at least three and at most 25 at their existing or newly established base compared to August, the state secretary said.
Companies can apply for a maximum of HUF 4 million in subsidies per employee, Bodó said. Wage costs of newly hired employees will be financed for eight months but the company will have to undertake to employ these workers for another eight months. Businesses can spend an amount equalling 30% of wage costs on purchases of assets and immaterial goods, he added.
The program can help 4,000 jobseekers find employment, Bodó said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.