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Gov't to support SME capacity expansions

Government

The government called a tender with an allocation of HUF 13.7 billion to support micro-, small and medium-sized businesses increasing headcount and expanding production capacities, state secretary of the Innovation and Technology Ministry Sandor Bodó said on Monday, according to a report by state news wire MTI.

The grant will be available to SMEs operating in Hungary's less developed regions, outside of Budapest and Pest county, he said. To be eligible, applicants have to undertake to increase headcount by at least three and at most 25 at their existing or newly established base compared to August, the state secretary said.

Companies can apply for a maximum of HUF 4 million in subsidies per employee, Bodó said. Wage costs of newly hired employees will be financed for eight months but the company will have to undertake to employ these workers for another eight months. Businesses can spend an amount equalling 30% of wage costs on purchases of assets and immaterial goods, he added.

The program can help 4,000 jobseekers find employment, Bodó said.

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