SMEs are the backbone of the Hungarian economy, providing jobs for two-thirds of the workforce, thus providing a livelihood for millions of families. To promote the growth of Hungarian small and medium-sized enterprises and expand their opportunities, the government has renewed the SME Strategy for 2030. The goal is to increase GDP growth to between 3 and 5 percent in 2025. In order to boost the economy and supporting families, the performance of Hungarian-owned SMEs must be further strengthened, therefore the government is developing a targeted action plan for them.

Márton Nagy, Minister for National Economy, expects the new State Secretary to maintain active and close contact with Hungarian SMEs, as well as with their representative professional organisations and chambers. He also expects Szabados to involve these stakeholders in the detailed elaboration of the SME action plan, such as making the Széchényi Card Programme more advantageous, advancing the "1+1" investment support programme, and promoting the sector’s digitalisation.

The newly established State Secretariat for SME Development and Technology will be responsible for indentifying the challenges and opportunities affecting SMEs.

Richard Szabados started his career at an international auditing firm, then took on a senior management role in the corporate business of several commercial banks. Prior to his assignment as State Secretary, he was the Executive Director of the Hungarian Economic Development Agency (MGFÜ). Under his leadership, MGFÜ underwent a complete transformation to align with the government’s targeted enterprise development action plans. Among these should be highlighted the launch of supplier development and technology improvement programmes funded by Ginop Plus, establishing a network of experts, and developing a framework and tools to support the sustainable growth of small and medium-sized enterprises.

Resource: NGM
Photo: Ákos Stiller, Portfolio