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.