Should small Hungarian businesses concentrate on an online presence?

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It’s no secret that Hungary is in the midst of a very strong economic downturn and the country isn’t in a position to expect financial support that will filter down to the modern business and consumer. With the after-effects of COVID-19 still on everybody’s minds and the fact that many large businesses were forced to move their services into online environments to continue to earn an income (and saw some success), small businesses are now considering if it’s time to do the same.

Why are Hungarian businesses holding back?

While the internet isn’t a new inception and has a wealth of opportunities for businesses of all sizes worldwide, there are a host of reasons why many Hungarian stores have not yet made the switch. One is that a lot of individuals believe in traditional business operations and have strong values when providing goods and services to local communities. Another that comes into play is the costs that can come with setting up in online portals.

For example, website hosting and platforms that facilitate e-stores typically have fees or subscription costs that simply aren’t coverable on a budget, but it can also be costly to hire someone to create the written and visual content that websites and pages often need to both engage audiences and implement SEO practices for ranking. While this can be taken in-house or individually, the time and effort involved don’t always balance the rewards, so many opt to operate as usual and continue to focus their endeavours on their physical presence.

How can social media and AI help?

The good news is that 2023 is the age of social media and automation, so it is now easier than ever before for absolutely anyone to get established online, whether they have a business or are hoping to potentially monetize content (for example, those wanting to start dropshipping or become a product influencer). As social media platforms are free to sign up to and a host of AI tools are streamlining content creation, there really is no reason not to at least take a look at their capabilities right now.

The benefits of social media

When moving a small business over to online portals, the top benefit is reach – and Hungarians will be able to offer their goods and services to global audiences. It’s no longer necessary for a website to be set up, as social media pages provide worthwhile engagement and support sellers – and it’s so simple to go viral now with professional quality content. One of the top platforms to post on and create advertising campaigns for is YouTube and online AI video editing platform CapCut has a YouTube video editor that can either generate or upscale files for free, in as little as one click.

The benefits of AI tools

With the tools on offer at CapCut in mind, users can create branded content using editable photo and video templates, use an AI portrait generator, or even take home-filmed footage and run it through the video stabilization tool for the most engaging videos that won’t lack in quality. There are other automation tools like scheduling software that can take the videos and photos users create and post them on social media platforms at the most relevant times.

Should small Hungarian businesses be considering an online presence in 2023?

The only answer to this question is yes, as the economic and financial environments in the country are driving more and more businesses to diversify their reach and search for new income streams. With the capabilities of social media and AI, it’s now simpler and cheaper to get set up than ever before, so why not give it a try?