Without strategic business development, entering any new market can be risky. The Hungarian market is no different. Many people do not realise that success or failure does not depend on the product or the business idea.
It depends much more on how well the chosen business model fits the local conditions.
In this field, Pannova Group can provide outstanding partner support. With this article, we aim to provide guidance for entering the Hungarian market while also supporting the integration of foreign players with practical tools.
1. The mysteries and opportunities of the Hungarian market
Hungary is a dynamic but unconventional market. Foreign investors arriving here are often surprised by how different
- the decision-making logic,
- the bureaucracy,
- and the pace of business can be.
Initial experiences can sometimes be misleading unless we have a well-experienced partner with local knowledge by our side. Someone who acts like a tour guide. Someone who understands this economic environment, and is therefore able to facilitate rapid returns and a stable presence.
As an investor, it is not necessary to learn through our own mistakes. It is wiser to build on the experiences of those who have already succeeded.
2. Why do the majority of replicated business models not work in Hungary?
International success models aside, it is still advisable to fine-tune even a well-established concept before entering the Hungarian market. After all, local demands, price levels, infrastructure, or the labour market may not align with the original plans.
The drawback of automatically transferred models is that they often overlook Hungarian consumer habits and the differing expectations of business decision-makers. Moreover, with a replicated model, it is easy to underestimate the expectations and cultural particularities of the local customer base.
Any of these factors alone can lead to failure. That is why relying on the advice of a consultant who knows exactly how to adapt can be crucial.
3. Strategic business development also involves selecting the optimal location
The idea that it is only worth searching in the Budapest area is mistaken. An excellent example of this is the South Transdanubia region, and in particular Pécs its surrounding region, which offers remarkable potential in several respects.
We are talking about a location with exceptional growth potential, which is still less crowded compared to areas near the capital. Other advantages include:
- low market saturation,
- a positive attitude from the local government,
- an impressive pool of locally available professionals,
- proximity to the border,
- favourable logistics conditions thanks to the nearby motorway and railway network.
We can say that the region is on the verge of a remarkable leap forward. Its potential is still untapped, and competition remains manageable. It is advisable to act before this changes.
4. “GetYourGuide” in strategic business development
When our partners ask about the added value, support, and expertise of Pannova Group, we often use this analogy: “GetYourGuide” – a local guide who provides comprehensive assistance when entering the Hungarian market.
This, of course, includes the area of strategic business development. Which, in its complexity, is much like a construction project. In other words, planning alone is not enough, you need skilled professionals,
- skilled professionals
- a stable supply of raw materials,
- permits,
- precise timing,
while constant monitoring of the process is essential, marketing or sales activities should not be overlooked, and the overall operational system must be coordinated.
Pannova Group is a local partner with a global perspective. As prepared advisors, we support not only your market entry, but also your operations. We will not let go of our partners’ hands. They can make use of all necessary back-office services and support functions with us, should they wish to.
We combine local knowledge with international experience, provide guidance and, if required, participate directly in the project’s execution. Unlike many external experts, we possess all the key competencies in-house.
This includes our network of contacts, established operational support, and up-to-date market information.From real estate matters and legal support to human resources and IT processes, we have a comprehensive view of the market. After all, the key to success lies in the cohesion between the individual elements.
5. How can an already established ecosystem accelerate integration?
Thirty-six plus years is a long enough period for us to have established processes that allow a faster start-up. In other words, there is no need to
- engage in time- and resource-intensive experimentation,
- search for new partners,
- or build separate channels.
The support system we provide enables rapid response and stable growth. This results in significant time savings, cost efficiency, and reduced risk. A new entrant can immediately integrate into an active business environment.
Similarly, the support provided by Pannova Group in obtaining the necessary permits, handling official matters, and recruiting staff acts as a fast track.
With us, consulting is not theoretical but based on daily practice, supported by concrete interventions. This way, the investor receives immediate and substantial support in all necessary areas.
Conclusion
The Hungarian market presents numerous challenges, but with the right support, these can be overcome or even anticipated. Pannova Group is a partner that facilitates a successful entry into the Hungarian market while also laying the foundations for long-term, effective presence.
Are you considering strategic business development and looking for a truly competent partner to support you? Get in touch with us and let’s discuss the details!
