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Financing SMEs – Prospects in Hungary
74-90Views:1187After joining the EU, micro-, small- and medium-sized enterprises came to the focus of attention in Hungary 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 to 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 have 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 situation 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 a primary questionnaire research exploring the financing characteristics of SMEs in Hungary. -
Controlling characteristics of SMEs in the Észak-alföldi Region
259-263Views:272Since the regime change in Hungary, the main federal task has been to strengthen the small and medium-sized ventures. The size of the category plays an important role in the employment as well as in the GDP production. Those areas that make businesses strong and reduce the risk of their activities are in the center of attention in this hardly predictable economic era. One of those areas is the views and methods of controlling which is still hardly adoptable to most of the CEOs in businesses. The introduction and the use of these operations give concrete results within a relatively short period of time, making the decision makers’ job easier at the companies. The study includes the examined SMEs, the design of business characteristics, the valuation of suppliers and customers, the production and the prime costs of the service. The vision of SMEs that characterizes the application of the tools and methods of controlling are also included.
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Adaptation of automated control technologies in SMEs
80-89Views:166The spread of automated controlling technologies significantly impacts the operations of small and medium-sized enterprises (SMEs), especially in financial management. These technologies enable companies to manage their finances more efficiently, reduce costs, and enhance competitiveness. The benefits of automation include increased accuracy, reduced manual labor, and faster data processing, which allow managers to make more informed decisions. Through digital transformation, SMEs can access the latest technologies, such as artificial intelligence, cloud solutions, and big data analytics, further boosting the effectiveness of controlling systems. In the future, it will be crucial for SMEs to integrate new technologies like blockchain, IoT, and AI to sustainably improve their performance and competitiveness.
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The Applicability of Controlling at the SMEs in the Construction Industry
351-358Views:270This model was created mainly for those SMEs from the building industry which have such industrial specialties like low capitalization and tight liquidity. Due to these factors the fast management information system and the focus on operational and financial issues are essential. Based on the facts mentioned above I have tried to provide a technical assistance for the owners/CEOs of these SMEs. Although they have no controlling department they need the fast information flow to support their business processes and to base their decisions aiming for a profitable operation and a sustainable liquidity.
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Controlling Methods for SMEs’ Risk Reduction
23-30Views:286A substantial proportion of entrepreneurs strive to reduce the risk of their activity, which means they refer to a number of methods known, but rarely applied by them. Risk reduction activities can be totally interconnected with the ‘controlling’ approach and methods that are still not well known to a lot of company executives, but the introduction and application of those methods provide tangible results for business decision-makers within a relatively short period of time. The paper presents the size, activity, financial process characteristics, planning features, suppliers and buyers' evaluation practices of the investigated SMEs using correlation analysis methods. The study is a continuation of a research topic that has been going on for many years and is based on data collection from the years 2015 and 2016. We have evaluated the planning and management features of a total of 53 micro, small and medium-sized enterprises by questionnaire processing.
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ESG among hungarian small and medium-sized enterprises
85-96Views:796Sustainability issues have become increasingly important in recent years in all areas of business. Regulations that were initially only mandatory for bigger, listed companies will in the future also apply to smaller and unlisted companies due to the expectations of supply chains, bank financing and other stakeholders. The aim of this study is to present the attitude of Hungarian small and medium-sized enterprises (SMEs) towards sustainability criteria through secondary data collection. As a primary research, I used an online questionnaire to assess whether the management of Hungarian SMEs are aware of the ESG framework, to what extent they integrate sustainability criteria into their business activities, whether they are part of their business strategy, and how they relate to sustainability reporting. I will also take a look at the motivational factors behind the implementation of ESG considerations by Hungarian SMEs and the factors influencing disclosure practices.
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Exploring Digital Maturity Perception vs. Reality in Hungarian SMEs
1-12Views:308The research aimed to explore how the digitalization development of micro, small, and medium-sized enterprises (SMEs) in Hungary relates to their perceived digital readiness, and what role the size of the enterprise plays in this relationship. During the data collection, structured questionnaire data were collected from 207 enterprises, which were analyzed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. The reliability of the measurement model was adequate (Cronbach alpha: 0.728–0.915; AVE: 0.579–0.792), and the discriminatory validity was verified by several procedures (e.g., HTMT values: 0.425–0.641). According to the results of the structural model, actual digitalisation had a negative, significant relationship with perceived digital readiness (β = -0.444; p < 0.001) and perceived adaptability (β = -0.501; p < 0.001). The size of the enterprise also had a significant impact on the perception of adaptability (β = 0.363; p < 0.001) and also played an intermediary role in the model. The results suggest that more advanced businesses are more critical of their situation, while smaller companies tend to overestimate their digital capabilities. The research contributes to a deeper understanding of the distortions of digitalization self-assessment and the foundation of targeted development interventions.