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Analysis of the Italian companies in Hungary founded in the first semester of 2021

In collaboration with ITL Study Center, we are going to publish a brief analysis concerning the Italian companies set up in the first semester of 2021.

In the present article, the firms in question will be specified on charts and at the same time filtered by place and country of residence as well as the typology of activity performed.

The underlying objective of this article is to easily spot the companies which constitute the Italian entrepreneurial fabric in Hungary.

Besides, by executing a comparison with the main trends featuring the previous years, it is possible to establish whether the course of the opening of business enterprises is growing or has been subject to contractions.

Here, lastly, short thoughts will be set out about the probable causes of the variations in the trends under examination.

How many Italian companies have been founded during the first semester of 2021?

Italian companies founded in Hungary during the first semester of 2021

From the above graph, we can highlight a gradual and progressive reduction in the number of companies set up from January 2021 on with the only exception of April when there was a slight rise compared to March (+5 enterprises).

The overall number of the companies founded in Hungary is 62, a little comforting data if compared to the respective result of 2020 when the firms were 107.

Which factors have had a deep influence on the companies founded in 2021?

Even though the crisis due to the pandemic has certainly caused a decrease in the number of businesses founded, the latter turn out to be greater in number than the ones in 2020.

This result may somehow be related to a generalized uncertainty environment linked to the enduring constraints imposed by both the Hungarian and Italian governments.

The hope is that – following the massive vaccination campaign – the loosening of the border controls and the related limitations might soon determine the recovery of the economy and rebirth of the Italian business landscape in Hungary.

Among the numbered causes, we surely have to point out an ever more stringent assessment and measurement system of the companies’ risk – banking compliance function – that prevent small-medium enterprises from having access to credit quickly.

Italian companies founded in Hungary by city & county

Italian companies founded in Hungary during the first semester of 2021 by city

As showed by the graph, the vast majority of Italian companies in Hungary are born in Budapest (about 90%).

Such a result is due to the fact that not only Budapest is the Hungarian capital but also the principal financial center of the country.

Accordingly, the below graph – which exhibits the enterprises filtered by county – points to Főváros, namely the county of the capital, as the principal geographical area in terms of industrial concentration.

Italian companies founded in Hungary during the first semester of 2021 by county

Italian companies founded in Hungary by activity performed

Hereafter, it is reported the number of companies by the type of activity performed.

Italian companies founded in Hungary during the first semester of 2021 by type of activity

Approximately, 30% of the enterprises carry out traditional consulting activities as evidence of how the third sector represents a thriving and significant branch of the Hungarian economy.

Lastly, there is the clothing and building sector by importance.

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