Financing SMEs – prospects in Hungary

Mester, Éva and Tóth, Róbert (2015) Financing SMEs – prospects in Hungary. Studia Mundi – Economica, 2 (2). pp. 113-126. ISSN 2415-9395

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Abstract

After joining the EU, micro, small and medium enterprises came to the focus of attention in Hun gary for their grandiose role in both employment and producing added value. Due to their flexibility, creativity and adaptability SMEs find new market opportunities easier. Also, SMEs can find their way and seize appearing opportunities more quickly under rapidly changing, insecure and high - risk circumstances. When analysing the sector, besides the investigation of the external environment, it is also important to focus on internal factors. The success of businesses is not only influenced by their access t o financial resources, but also by their internal organisational structure and the standard of their organisational culture. In the present phase of world economy, when transports are delayed, credits are harder to obtain and companies downsize, leaders ha ve to make careful and considerate management and operational decisions. Thus financial decisions have considerable short and long - term effects on the success of business operation. This research paper aims at a comprehensive study of the present situatio n of the Hungarian SME sector, some of its financing opportunities, as well as factors that hinder its development. Another purpose of the present writing is to lay the theoretical foundations for questionnaire primary research exploring the financing char acteristics of SMEs in Hungary.

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