Are you interested in starting a business in Hungary? If Yes, here are the top 10 best small business ideas & investment opportunities in Hungary.
Hungary is a European country that is located in Central Europe. The capital and largest city of Hungary is Budapest. Hungary shares borders with 7 European nation; Austria, Ukraine, Slovakia, Serbia, Croatia and Slovenia. It is important to mention that Hungary is a landlocked country. Hungarian is the official language of Hungary and English and German are also widely spoken in Hungary.
In 2013 Hungary recorded about 10.675 million tourists and it impacted positively on their economy. Tourists come to Hungary to visit the largest thermal water cave system in the world, to visit Lake Heviz (the 2nd largest lake in the world), to visit Lake Balaton and to visit Hortobagy National Park (the largest natural grasslands in Europe).
Hungary is a member of the Schengen Area and also the European Union single market. The major contributor to the economy of Hungary are the Construction Industry, the Mining industry, the textile industry, the chemical industry, pharmaceutical industry, the automobile industry, the food processing industry and the agriculture sector. Chief amongst the crops cultivated in Hungary are corn, potatoes, sugar beets, wheat, sunflower seed.
Other Agric products are dairy products, poultry, cattle, and pigs. It is important to state that the economy of Hungary is said to be liberal and it enjoys loads of foreign investors. Let us quickly go through the top ten business opportunities that are available for investors who intend starting a business in Hungary;
Top 10 Small Business Investment Opportunities in Hungary
There are loads of businesses that are open to investors in Hungary, and Food Processing business is one of them. If you are thinking of a business to establish in Hungary, you should consider establishing your own Food Processing Plant. All you would need to do is to carry out your feasibility studies so that you are able to know the commodity that is of high demand in the market.
It is profitable to process foods that are in high demand not just in Hungary but also in other countries. For instance; if you discovered that processed tomatoes is in high demand in the market, then it would pay you a great deal if you start producing canned tomatoes.
Poultry business is one of the prominent agric related businesses in Hungary. You should consider establishing your own poultry business if you are thinking of an agric related business to start in Hungary. The truth is that poultry and eggs are widely consumed in Hungary. It is indeed a profitable business enterprise especially if you have outlets where you supply eggs on a daily basis.
3. Meat Mart
No doubt if you open your meat mart in any of the cities in Hungary, you are sure to enjoy good patronage. All you need to do to make your meat mart a one stop shop for meat shoppers is to ensure that you sell different varieties of meat in your meat mart. There are people who are cool with beef, some with pork et al. just make sure your customers get what they want and you will make good profits.
Car wash garage is another profitable business you can start in Hungary. It requires low start – up capital and no technical skills. It is easy to establish a car wash garage in Hungary and you won’t have to apply for any license from the government before opening this kind of business.
The truth is that if your car wash garage is close to a major road, and you have facilities in place that ensures that your customers are comfortable while their cars are being washed, then you may enjoy wide range of customers and that obviously would translate to good business deals for you.
Hospital and Pharmacy business is one of the businesses that can succeed in any part of the world simply because people are concern about their health. If you are a doctor or a pharmacist and you are looking towards establishing a business in Hungary, then you don’t need to think too far.
If you establish your Hospital alongside a pharmacy outlet within the same facility, you can be sure to make good returns on your investment. The truth is that if you are hard working and focused, you can end up opening other branches of your hospital in other cities in Hungary.
6. Textile Manufacturing Company
Hungary is notable for the manufacturing of some of the finest textile. If you go into the business of textile manufacturing and you have business contacts outside Hungary that can guarantee exports of your textile, then you can be rest assured to generate huge returns on your investment. No doubt textile companies in Hungary do well when their textiles are demanded by other countries.
7. Recording Studio
The hip hop lifestyle is rapidly catching up with the younger generation of the Eastern Bloc and Hungary is not left behind. Loads of youth in Hungary aspire to become music celebrities and the easiest ways to make profits from this growing trend is to establish your own recording studio. The truth is that, if your recording studio is well equipped and it is situated in the heart of the city, you will surely enjoy huge patronage.
8. Dietary Supplement Wholesale and Beauty Business-: If you are not interested in the manufacturing sector and you have what it takes to convince people to buy stuffs from you, then you should consider going into Dietary Supplement Wholesale and Beauty business.
9. Plumbing Business
If you are a plumber and you live in any of the cities in Hungary, then you should consider starting your own plumbing business. The truth is that the services of plumbers are in high demand in Hungary. Even if you are not a trained plumber, you can get trained and then establish your own plumbing company.
10. Recreational Park
If you have huge financial base as an investor, you should consider building your own recreational park in Hungary. This type of business is indeed a profitable business in Hungary especially if you build your recreational facility to carter for both the young and the old.
These are just some of the viable and profitable businesses that are available to both aspiring entrepreneurs and big time investors in Hungary. It pays greatly to have investment of different sorts and you can be rest assured that Hungary is a very good place to be a stake holder.