Doing business in Hungary … first time alone?

Are you kidding me? I am going to explain now why and on which points of business life a firm like Business Management Hungary’s whole activity gets legitimate. Have you seen the Silicon Valley tv series? And the movie Pulp Fiction? And do you have any idea what is the connection between them? Listen carefully.

As Hungary became a startup hub in the CEE region in the last years, more and more young Hungarian entrepreneurs want to start their own company. And they definately do, too. What’s more, not just exclusively situated in Hungary. Lots of them realized that having/crowfunding a not-too-big capital (in worldwide standards) makes them able to start off worldwide. But before you start doing business in Hungary …


… consult with a local expert or business advisor! Doing business in Hungary is … but you know what? Even if we talk about any place in the world, and whether about startups, retail companies or any other kind of industries, in their early phases they inevitably produce mistakes. Smaller ones and bigger ones. Whether in the professional side, during negotiations or in financial decisions. Why not to decrease the risk or making mistakes from the begenning?

Well, I know that everybody waits the issue about Pulp Fiction and Silicon Valley so if someone haven’t seen them yet: let’s start and go on with reading afterwards.


doing business in Hungary Silicon Valley poster

For thoose who are already up to date: while watching Silicon Valley haven’t you got crazy sometimes? The „screwing around” was killing me.

– How come, I asked myself, that someone agrees with someone without signing a contract in a place like Palo Alto?? At least a few rows on a post-it, even without an advocate?

– How come, that Richard (Thomas Middleditch) sais NO to a 10 M USD offer? Okey, maybe I am not used to get offers like this, but again: there are no more options? No place for negotiation? Ain’t I able to get this money AND become the director of the department working on my project, asking for share in the whole company, etc.

– How someone can make such a huge mistake that he starts to explain his secret in front of an audition who can steal the whole idea in a second?

– How come that a big company like „Hooli” lets herself to employ those slubberer lawyers making a wrong employment contract?

These are all problems, and very lifelike problems as a matter of fact for many companies. And not just for small ones. Kind of good examples of throwing out the baby with the bathwater.

You would think that what happened in the show is fictional, but let me tell you how easily it can happen in real life. While doing your business in Hungary you might make the same mistakes, like:

– start doing business without permits or without reporting your business activity;

– making money without reporting your incomes to the tax authority (IRS – NAV);

– signing an employment contract against the labour code;

– not studying the market carefully enough and paying extremly high rent fees;

– falling into the mistake of not paying an acceptable wage for the employees and fighting with continous fluctuation;

– leading a company without Policy and solving problems ad hoc;

– forming a company without choosing the best type of business entity.

And the list goes on and on. I am not saying that I have seen ALL the possible mistakes that can ever come up but I can assure you that doing business in Hungary with a local expert might save you a lot of money and unslept nights.

Why? Let’s close the circle and check out Pulp Fiction’s relevant seconds of a secret, director’s cut you have never seen before:


Business Management Hungary


published on LinkedIn 04/08/2015 by Business Management Hungary