Hungarian SME representation and economic sentiment

The National Association of Entrepreneurs and Employers (VOSZ) has been active in representing Hungarian small and medium-sized enterprises (SMEs) both internationally and domestically.

In late September, VOSZ held a program in Brussels to engage with the European Economic and Social Committee and European Commission experts. The goal was to ensure Hungarian business challenges are integrated into EU regulations and development programs. President Attila Gazsi described the organization as an intermediary that presents local problems to European partners while helping domestic entrepreneurs navigate bureaucracy.

By the third quarter, the VOSZ Barometer, which surveys 600 SMEs, declined to a neutral 50 percent from 52 percent in the second quarter. Co-president Ákos Kozák attributed this to a drop in business sentiment and investment expectations. While the perceived financial situation of companies is stable or improving, business leaders are seeking clarity on upcoming government economic and industrial policies, particularly regarding support systems and subsidy frameworks.

In October, new developments emerged regarding Hungarian SME support and innovation. The Restart Hungary initiative is advocating for systemic changes to retain innovation capital, including the introduction of the SAFE legal framework for startups. Furthermore, a 270 billion forint interest-free credit program has been announced to assist SMEs with working capital and investments in energy efficiency and digitalization. Despite these measures, the VOSZ Barometer continues to reflect a slight decline in business sentiment and investment intentions as companies await more definitive economic policies.