Doing business in Hungary

Button with Hungarian flag

We will be happy to help you do business successfully in Hungary.

Hungary may not seem like the most obvious place for some to find a business partner, but the economic growth that the country has seen in recent years makes it very attractive for foreign investment. Despite being a relatively short distance from the UK, there are a number of important cultural differences which you should take into account. The tips below will help you understand the differences in business culture.

Tip 1: Formality:

In general, Hungarian people are exceptionally formal. This is apparent from the start, when it comes to how people greet each other, which is with a strong handshake. Upon being introduced, the surname is given first, then the first name. In the course of the conversation, any title is given before the first name. As well as greeting everyone individually with a handshake, a business card is generally given to all those present as well. Dress is also very formal.

Tip 2: Hungarian hierarchy

Many companies in Hungary are hierarchical, and important decisions will always be taken at the highest level. Several people will be present during negotiations so it isn’t always clear who the director may be.

Tip 3: Building a relationship

Hungarian stamp with image of a boat

Prior to doing business in Hungary, it’s a good idea to invest time and effort in building relationships there. It is not unusual to establish such contacts while enjoying lunch, dinner, or some form of entertainment, but it is important not to talk about business matters at such times. A good conclusion to a conversation or transaction is often to celebrate it with an alcoholic drink.

Tip 4: The language

Hungary’s older generation often speaks German as a second language, while younger people mostly speak English. Presenting business documents in Hungarian or displaying a bilingual business card is greatly appreciated. We will be happy to help you do this and we have native Hungarian translators with extensive experience in various specialist fields. If you need manuals, technical documents or even daily correspondence translated, you’ve come to the right place. Feel free to get in touch with us for more information.

2016-09-28T08:28:07.2297416Z

Leo Kok
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