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Would you like to do business in Hungary? These are the most risky businesses
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According to turizmusonline.hu, the number of liquidations dropped by nearly half in 2015 compared to 2014, and it resulted in the significant decline of the defaulting rate of Hungarian businesses as well. The list of risky industries also changed, because now accommodation services leads the list and is followed by food production and construction industry.
The number of forced cancellations decreased in 2015. This process is launched when, for example, a company cannot be found at its headquarters, the enterprise did not file statements, or comply with tax obligations. More than 42 thousand of these procedures were initiated in 2014, but this number was only 31 thousand in the last year.
Proportionally, most cancellations happened in the wholesale, the accommodation services and the administrative services. In these areas the defaulting rate is also high, which means that these industries are seriously affected by insolvency.