Starting a business in Budapest

Hi everyone!

What kind of startups could work in Budapest? I am moving from Denmark to Budapest in a couple of months to settle down with my family. I’m planing to start a new business there and, I would love to hear some suggestions or ideas from you guys. My areas of interest are not restricted to something in particular but, I would prefer a project that has to do with my expertise. I am UX-UI Designer, I have BA degree in Information Technology. I also have a good set of technical skills so, I was wondering if something that’s related to design and development could work there. I was thinking of Marketing Agency but, I’m a little bit uncertain if it could work out in Budapest.

Please let me hear your ideas and suggestions.
Your efforts are much appreciated :)

Best regards
Adam

" I am UX-UI Designer"

Do you have a portfolio?

"I was thinking of Marketing Agency but, I’m a little bit uncertain if it could work out in Budapest."

What makes you uncertain?

Indeed, I do have a portfolio. What makes me uncertain is my limited knowledge about the Hungarian IT and Design industry. Though, according to the internet, it can be a good investment especially because of the low tax rate of 9% and the cheap labor. But still it could be more helpful to hear from locals what they think and, if they would have different suggestions.

"Indeed, I do have a portfolio."

Can you show it?

"especially because of the low tax rate of 9% and the cheap labor"

Where exactly have you read about the 9% tax rate and cheap labor?

And how exactly did you mean that "starting a business"? Hiring people that work for you, and finding hungarian customers?

I could show my portfolio if I have a reason to do so. I’m not applying for a job. I am clearly asking for Ideas and suggestion of what business could be a good one to start in Budapest.

The link below is one of which it says about the 9% taxation and other things:
http://hungary-company.hu/?gclid=Cj0KCQ … LDEALw_wcB

“And how exactly did you mean that "starting a business"? Hiring people that work for you, and finding hungarian customers?”

That’s is exactly what I am up to :)

Do you have experience in managing a business, with employees? Also, what motivates you to target the local (relatively poor) customers with services that can be deliveder over the internet..?

“Do you have experience in managing a business, with employees?”
I do have a solid experience in managing a small businesses with a small number of employees. And now I am moving towards expanding that experience.

“Also, what motivates you to target the local (relatively poor) customers with services that can be deliveder over the internet..?”
Well, as I noticed when I visited Hungary there is a lack of good quality ads and the IT services seemed to be not on its best. That is one of the reasons. In the other hand if a company can deliver a better quality services for those “ poor customers” it’s still a win win. Especially if you manage to attract them. And when you combine that with the cheap labor and low taxes it might have a very good chance to succeed. That’s where I am standing right now.

What is it you’re trying to say exactly? What I can conclude from your questions is, there is a very low chance of making a successful business. Have you tried your self to start your own business there?

"What is it you’re trying to say exactly?"

I'm trying to say that your posts reflect so much confusion that I doubt that you're the person you claim to be, it's like if your posts were written by an indian "content writer" or "online marketing specialist". Too many site owners these days do that, pay people to post random questions to stir up conversations and increase site traffic. If I'm wrong, at least you've got your first reality check...  :cheers:

And how many reality checks I would need to get an answer of my question?  :cheers:

Hej Adam

Have you moved to Budapest yet?

I think you should have good chances for success in Budapest, there is a shortage of good people everywhere!

I am moving to Budapest myself too, starting out in construction!

Skrev lige på engelsk af respekt for forummet😁

Best Regards

Robert

Adam.dal :

Well, as I noticed when I visited Hungary there is a lack of good quality ads and the IT services seemed to be not on its best. That is one of the reasons. In the other hand if a company can deliver a better quality services for those “ poor customers” it’s still a win win. Especially if you manage to attract them. And when you combine that with the cheap labor and low taxes it might have a very good chance to succeed.

And you think you are the first person to notice that?  And think simply coming in and providing a better product for local consumption will make a lot of money?

Hate to say this, but that is not how it works here.

If you want to export, fine. That is different. Different, but still has issues.

But selling locally, you have to "know a guy". Your product may be the best. But if you are not connected you will have problems selling. The buyers here buy from their friends and relatives who they went to school with. Even if the product is inferior. It is a relation and relationship based business culture on many levels. And those relationships often are decades old.

Maybe you will be an exception. But it will not be easy. Especially if you do not speak Hungarian.

I am not criticizing the local system. I am simply stating that is how a lot of business is done here.

Hej Robert

Roblar :

Hej Adam

Have you moved to Budapest yet?
I've moved to Budapest three days ago. Things seems to be quite promising

I think you should have good chances for success in Budapest, there is a shortage of good people everywhere!
Thank you! That is actually sad but still true about Hungary, most of professionals have left the country. They moved to western countries for a better opportunities, and because of the economic situation.

I am moving to Budapest myself too, starting out in construction!
I wish you the best of luck with moving to Budapest. Constructions seems to be a great thing to start here as well. Have you been working with construction in Denmark?

Skrev lige på engelsk af respekt for forummet😁
Det er ok at skrive på engelsk. faktisk, er det bedre på engelsk, fordi jeg ikke taler meget dansk, jeg boede i Danmark i et par år og kunne ikke fuldføre min dansk. men tak for det :)

Best Regards

Robert

Hej Robert

klsallee :
Adam.dal :

Well, as I noticed when I visited Hungary there is a lack of good quality ads and the IT services seemed to be not on its best. That is one of the reasons. In the other hand if a company can deliver a better quality services for those “ poor customers” it’s still a win win. Especially if you manage to attract them. And when you combine that with the cheap labor and low taxes it might have a very good chance to succeed.

And you think you are the first person to notice that?  And think simply coming in and providing a better product for local consumption will make a lot of money?
Not quite. But I think if I devote myself into it, I might make it. I didn't think about a lot of money but if I succeed and could make a living it still worth the adventure

Hate to say this, but that is not how it works here.
In what way do you mean?

If you want to export, fine. That is different. Different, but still has issues.
That could be my long-term goal. What kind of issues do you mean?

But selling locally, you have to "know a guy". Your product may be the best. But if you are not connected you will have problems selling. The buyers here buy from their friends and relatives who they went to school with. Even if the product is inferior. It is a relation and relationship based business culture on many levels. And those relationships often are decades old.
That is partly true. But I can't agree with you that it is a very much closed market. Especially, if you're talking about the IT services industry.

Maybe you will be an exception. But it will not be easy. Especially if you do not speak Hungarian.
I hope to be an exception.I agree with you that speaking Hungarian is a very important factor. If not the most important. Luckily for me my Hungarian wife could handle some Hungarian speaking for me when it's necessary. Until I learn the language.

I am not criticizing the local system. I am simply stating that is how a lot of business is done here.
Can't agree more, that a lot of business is done in that fashion. But not all of them. In my opinion the IT industry has its own international style all over the world, and it passes the local limitation.

So you just arrived to Budapest, great... and good luck with it!
would be good if you stay on this expat and follow your progress and experience!

Yes I was in construction in Denmark for +20 years, though the last 5 years, I was involved in a few startups that had nothing to do with construction!
And the last one year I used some time educating myself, so I started to learn coding, only on basic level html c++ and some blockchain. Very beginner level in between family life!

So you are actually not Danish?

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