Empowering your Business in Hungary
TRADE BUSINESS INVESTMENT
Copyright Š 2014 by British Business Centre. No part of this publication may be reproduced, scanned, or distributed in any printed or electronic form without prior permission from the British Business Centre Hungary.
BUSINESS AND HUNGARY
THE BRITISH BUSINESS CENTRE WORKS IN PARTNERSHIP WITH UK TRADE & INVESTMENT (UKTI) ON THE OVERSEAS BUSINESS NETWORKS INITIATIVE. LAUNCHED IN LATE 2012 BY THE PRIME MINISTER, THE OVERSEAS BUSINESS NETWORKS AIMS TO TRANSFORM THE SUPPORT AVAILABLE FOR BRITISH SMES SEEKING TO DO BUSINESS IN HIGH- GROWTH, HARD-TO-ACCESS MARKETS ACROSS THE WORLD. TOGETHER WITH UKTI WE WORK WITH UK-BASED BUSINESSES TO ENSURE THEIR SUCCESS IN INTERNATIONAL MARKETS.
„Today Hungarian & British firms have the potential to do billions of forints of business. The Business Centre is part of the solution.” Jonathan Knott, British Ambassador to Hungary
As a means of assisting British business expansion into the potential of the Hungarian market, UKTI has always provided support to UK companies looking to identify and realize exciting commercial opportunities in Hungary. UKTI co-founded the British Business Centre in Hungary under the auspices of the British Chamber of Commerce in Hungary with the specific aim to increase British exports. The British Business Centre’s primary goal is to assist small- and medium- sized businesses gain access to new business opportunities in Hungary. In October 2013, UKTI approved the funding for the creation of this dedicated business centre - The British Business Centre in Hungary - that will provide key services to UK businesses. Under the British government’s Overseas Business Network Initiative, this funding will pave the way for closer economic ties between the United Kingdom and Hungary by developing business connections and increasing British trade and investment.
BRITISH BUSINESS CENTRE HUNGARY
The British Business Centre in Hungary, opened on 7th March 2014 by Lord Livingston, Minster of State for Trade and Investment, is poised to strengthen business and trade relations between Hungary and the UK. Supported by the British Embassy and the British Chamber of Commerce in Hungary, the centre helps connect British businesses to Hungarian business opportunities. The centre provides a networking hub and business facilities from which British businesses can build upon local relationships to gain a stronger footholdin the market or maintain previously established connections. The British Business centre offers attractive subsidized rates for its services to both local and British businesses and boasts an exceptional venue for seminars, training programmes and meetings, including a boardroom and a workshop space. Business people visiting Budapest, Hungary will have access to personalized local market guidance, hot-desking facilities, and much more. There is vast potential trade for British companies in Hungary. The Business Centre staff is trained to supply introductions to key
companies and players in Hungary, assist British businesses obtain vital information, and provide ongoing assistance to foreign businesses. This includes market entry strategies, start-up support, promotion and outreach, mentoring and Market Assistance Programme (MAP) reporting.
BRITISH BUSINESS CENTRE HUNGARY
THE BRITISH BUSINESS CENTRE IN HUNGARY IS AN INNOVATIVE ENTERPRISE THAT CONNECTS BUSINESS OPPORTUNITY TO BUSINESSMEN AND WOMEN. THIS GOVERNMENT INITIATIVE IS DESIGNED TO CREATE ENTREPRENEURIAL THAT ASPIRE TO BENEFIT FROM THE VIRTUALLY UNTAPPED HUNGARIAN MARKET, A MARKET THAT IS ALREADY PROVING HIGHLY RECEPTIVE TO THE BEST THAT BRITISH BUSINESS HAS TO OFFER. THE BRITISH BUSINESS CENTRE IN HUNGARY OFFERS ASSISTANCE TO UK COMPANIES REPRESENTING ALL MAIN BUSINESS SECTORS. THE FOLLOWING KEY SERVICES AND FACILITIES ARE OF PARTICULAR SIGNIFICANCE: CENTRE FACILITIES Affordable rates on grade-A office space in the heart of Budapest. A board room, event space, meeting rooms, and more for hosting meetings, networking events, conferences, seminars, product launches, workshops, and trainings. Central hub for businesses to connect, collaborate, and learn from one another. Hot-desk facilities and access to fast broadband, wireless network, video conferencing, printer, scanner, photocopier, and coffee area. A comfortable and high-tech office away from the office for UK exporters, investors, and visiting small- and mid-sized companies. Shared
working environment for UK and Hungarian businesses with facilities to support growing business needs. SERVICES FOR UK BUSINESSES Basic start up support, including access to facilities, introductions to Hungarian companies, advising, vetted professional services, and more. Market promotion and outreach, including standardized UK web presence on a shared global platform, B2B webinars, and video conferencing with UK clients. Market support and working areas for field trips; access to UKTI inward, outward, regional trade missions. Tailored advisory services, such as legal support, financial support, translation and interpreting services. General services, including 1-to-1 mentoring, market awareness training, employee recruitment and management. Country and sector overviews, opportunities information, short-sharp meaningful assistance, Market Assistance Programme (MAP), product/service feasibility analysis, and market-entry strategy analysis and identification.
„Our mission is to listen to business needs and then proactively fulfil those individual requirements as effectively as possible.” Oliver Strommer, Manager, British Business Centre
BRITISH BUSINESS CENTRE HUNGARY
ADDITIONAL CONSULTING SERVICES Business marketing, including digital platform advisory services, marketing strategy develop ment, social media penetration, and print design. Event planning, such as business mixers, breakfast brieďŹ ngs, special annual events, lunch seminars, press conferences and product launches. Education in business, such as advice on project management and training workshops. Support booking and customer meeting planning. B2B
webinars and video conferencing with clients from the United Kingdom. Partner identiďŹ cation and matching service, assistance with planning a visit programme, product launch services, local market introductions, identiďŹ cation of possible business partners, and support for networking events (bespoke for client).
Business marketing, including digital platform advisory services, marketing strategy develop ment, social media penetration, and print design
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FAQs A few questions about successful business in Hungary
HUNGARY IS A MODERN EUROPEAN COUNTRY THAT JOINED THE EUROPEAN UNION IN 2004. ITS REGULATORY SYSTEM IS WELL ALIGNED WITH THOSE OF THE EU. FOREIGN INVESTORS HAVE FOUND THAT HUNGARY POSSESSES A TOP QUALITY LABOUR FORCE THAT IS EFFICIENT AND PRODUCTIVE. INVESTORS HAVE HAD NO PROBLEM FINDING SKILLED ENGINEERS AND TOP MANAGERS AS IT BOASTS THE HIGHEST NUMBER OF NOBEL LAUREATES PER CAPITA. HUNGARY HAS A HIGHLY DEVELOPED COMMUNICATIONS TECHNOLOGY BASE COUPLED WITH HIGH ENGLISH LANGUAGE KNOWLEDGE. THIS HIGHLIGHTS WHY SHARED SERVICE CENTRES OF LARGE BRITISH FIRMS SUCH AS BT, BP, DIAGEO AND VODAFONE HAVE DECIDED TO LOCATE HERE. Significant contracting and subcontracting tenders through EU funding is possible in most key sectors however some important ones to note would be agriculture (12.3 billion euro), Energy (£11.1 billion), healthcare (£1.3 billion) and construction ($33.6 billion).
WHAT ARE THE BENEFITS OF DOING BUSINESS IN HUNGARY? Hungary, situated in the very heart of Central Europe, offers many advantages to foreign investors and exporters. Below are some key benefits of the Hungarian marketplace: • Strategic location as a bridge between Eastern and Western, Northern and Southern Europe • 2.5 hours to Vienna, 5 hours to Prague, and 2.5 hours to Bratislava by car. • Political and economic stability • Modern transport infrastructure • EU funding projects worth over £150 billion pounds sterling • Combined population of 10.7 million • Availability of highly skilled and educated workforce offering the highest labour productivity in the CEE region with favourable labour costs • One of the fastest growth rates (forecast of 3% for 2014) in the European Union
FAQs
WHAT ARE THE KEY MARKET SECTORS IN HUNGARY? • The most important market sectors in Hungary include: • Engineering: automotive, energy, • Agriculture & rural development • Infrastructure & construction • Professional and financial services • Food and drink • ICT - Information & Communication Technology • SSC - Shared Service Centres • Security In recent years, countless global corporations representing these and various other industries have chosen Hungary as a base for their expansion into Central and Eastern Europe.
WHO IS BEHIND THE BRITISH BUSINESS CENTRE HUNGARY? There could not be a stronger team in place to facilitate British business in Hungary: a three-way partnership of the UK Government, the British Chamber of Commerce in Hungary (BCCH) and the British Embassy in Hungary. Funding provided by UKTI will ensure an effective infrastructure to capitalise on entrepreneurial opportunity in Hungary. The efforts of UKTI and the British Embassy - and subsequently the British Business Centre Hungary - demonstrate sincere optimism in the potential of fostering British-Hungarian business relations. The British Chamber of Commerce in Hungary has been operating for over 20 years. Its Board and membership base are comprised of UK nationals who are based in Hungary as well as Hungarian nationals who have a natural affinity for and business connections to the UK. The British Business Centre Hungary will bring the BCCH a new means of promoting UK trade and investment. WHAT DOES THIS PROGRAMME HOPE TO ACHIEVE? UKTI’s Overseas Business Network Initiative, which has been rolled out to a number of major UK export markets, aims to build on the proven capacity of the British Chambers of Commerce to provide export services and other opportunities to UK companies in areas with the greatest potential for growth.
FAQs
WHAT IS THE AIM OF THE BRITISH BUSINESS CENTRE HUNGARY? The aim of the Business Centre is to: • Be an open meeting place for British and Hungarian companies • Provide access to information and advisors capable of guiding companies through export or investment plans • Offer meeting rooms, work stations and other networking tools • Focus all aspects of UK trade under the British flag and promote awareness of UK trade and commerce • Organise networking events, programmes and webinars to encourage the creation of profitable relationships • Unite British companies and enhance British connections within Hungary WHAT ARE THE BENEFITS OF USING THE BUSINESS CENTRE? The centre has worked hard to establish representative office facilities and services for the benefit of British and Hungarian businesses. • An open-plan, collaborative environment • State of the art facilities for meetings, seminars and training • Support staff to help focus on the needs of small and medium-sized businesses and offer guidance in dealing with the local market • Competitively priced services and facilities
• Flexible agreements based around your needs • Additional consulting services from B2B network • Conveniently located in the centre of Budapest.
British Business Centre Hungary Bajcsy-Zsilinszky út 78 1055 Budapest • Hungary +36 1 302 5201 info@bcch.com www.bcch.com