Following the success of London and Berlin as ideal destinations for businessmen seeking international exposure, the Hungarian capital is increasingly attracting young start-ups. A combination of favourable factors enables Budapest to position itself as a European high-tech centre: young talents, low salaries and available capital. As a result, Budapest is multiplying start-ups and taking the lead in becoming the capital of young technology companies in Central Europe.
A study conducted by Startups.co.uk nominated Budapest as its first choice for a start-up. Thanks to the numerous existing structures (business incubators and public structures) for the development of start-ups and the presence of important funding sources, be it from business angles or international venture capital, this ensemble generates a favourable, dynamic and attractive climate for entrepreneurs in the field of technology.
In addition, manufacturing industries are also attracted to this capital city with its many assets, in particular because of its central geographical location, the numerous transport possibilities throughout the European Union coupled with its market of around 500 million consumers.
It should be noted that the Hungarian government has taken the decision to promote entrepreneurship by ensuring a 9% corporate tax rate of (one of the lowest in Europe), which promotes the competitiveness of companies operating on its territory and makes it very attractive.