UK’s ambassador: British business centre to focus on SMEs

Budapest, March 10 (MTI) – The newly opened Budapest Business Centre will focus on small and medium-sized companies (SME), a barely tapped market in Hungary, Jonathan Knott, the UK’s ambassador to Hungary, said told Monday’s business daily Napi Gazdasag.

Knott said their plans were serious and would be based on dialogue between the British and Hungarian business sectors. Having examined both markets, the decision was made to establish a new business centre with the aim of stimulating cooperation between Hungarian and British firms, he said. Meanwhile, the embassy will continue to work with medium-sized and large corporations, he added.

The majority of the 40 firms that have expressed interest in investing in Hungary are SMEs from a wide range of sectors. They include energy, security technology and equestrian gear makers, as well as high-tech, low-tech and b2b or b2c companies.

This variety across business segments makes it a challenge to offer the right services to companies, he said. The Business Centre’s head, Oliver Strommer, has both Hungarian and British roots and is familiar with both business cultures, Knott said. The most attractive feature of the Hungarian market is that it is practically unknown territory for British companies, so it is a completely fresh market for certain British brands. Moreover, it is only a two-hour flight away, which makes it an attractive and easy market, he told the paper.

The only obstacle in the way of business is a lack of information on both the Hungarian and British side, Knott said, adding that the UK is not a perfect a market and neither is Hungary, but it is not these problems but rather a lack of understanding of business opportunities that needs changing.

Photo: www.aberdeenimagyarok.co.uk

Source: http://mtva.hu/hu/hungary-matters