Hungary: Risk capital fund to support SMEs

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Budapest — The project will secure the long-term financing of up to 27 innovative and growth-oriented companies. © SECO

In Hungary SMEs provide employment for about 70 per cent of the workforce. This means that SMEs are a central pillar of the economy. The problem is that SMEs have great difficulty obtaining long-term capital or owners' equity. Investment in the equity capital of the company enable it to be creditworthy in the medium term, and this promotes company growth.

This is the background against which Switzerland is contributing CHF 14.5 million to the Hungarian "Euroventures Fund“. The project will secure the long-term financing of up to 27 innovative and growth-oriented companies. This means that numerous new jobs can be created and dynamic trade partners with increasing purchasing power can be established. Switzerland will also benefit from these new sales markets.

The "Euroventures Fund" is a public-private partnership. This means that at least 30 per cent of the capital is provided by private investors, who are encouraged to invest in this way because the state bears part of the risk.