BUDAPEST ENTERPRISE AGENCY
Innovative SME development and non-profit microfinancing
Budapest Enterprise Agency is the only organization founded by the Budapest City Council back in 1993 for the development and promotion of the micro, small and medium enterprises of the Hungarian capital.
Our mission is to contribute to the development and expansion of viable, new and existing entrepreneurs based on the market needs, thus contributing to the creation and preservation of workplaces in Budapest and to the facilitation of the economic growth of the Capital.
Our task are defined by the Budapest Strategy of Facilitating the Economic Growth and Job Creation (2015-2021) accepted by the Budapest City Council in 2015. The principles of its operation are in line with the actions proposed in the Small Business Act and Entrepreneurship 2020 Action Plan.
The two pillars of the activity of the Agency are innovative SME development and non-profit microfinancing. BEA is one of the few European SME development organizations that provide both low-amount (below 32,000 EUR) financial services for micro entrepreneurs and non-financial, business development services to SMEs. Women and young entrepreneurs are emphasized target groups of the services of the BEA.
By its non-profit microfinancial services the Agency enhances the access to finance of micro enterprises – especially for those which stand outside of the interest of commercial banks due to their size, to the low sum of the credit or to other causes. Budapest Enterprise Agency not only grants microcredits in the national, metropolitan and divisional microfinancing programs but helps the micro entrepreneurs with business plan and credit standing development consultancy and mentoring.
The Agency supplies innovative SME development services both for micro, small and medium enterprises and SME developer organizations and institutes.
In the BEA Smart programme – winner of the national competition of the European Enterprise Promotion Awards 2016 - designed for new and existing enterprises BEA established an entrepreneurial competence centre network with free services for the entrepreneurs. It organises events (conferences, workshops, lectures, networking events etc.) both at the seat of the Agency and at outplaced BEA Smart Points, presents entrepreneurial success stories and role models, builds a community, provides consulting and mentoring services. Regularly organizes startup and other entrepreneurial competitions with international presenting opportunities for the winners.
In the Startup Budapest programme the Agency presents the Budapest startup ecosystem at a regional, national and international level. Welcomes the delegations, startup managers and investors interested and organizes professional programs for them. Ensures networking and presenting opportunities for outstanding Budapest startups at internationally recognized events, festivals, conferences of the twin-cities of the Hungarian capital. Cooperates with the Hungarian embassies, consulate generals and consulates in the twin-cities and keeps contact with the municipalities and organizations associated with the municipalities thus enhancing the economical connections with the twin-cities of Budapest.
Within its economic development activity participates in the SME development activities of Budapest and its districts, in elaborating policies and creating an SME-friendlier business environment. In its Budapest SME Development Forums processes topics related to the growth of the economy of Budapest and presents entrepreneurial good practices both for the entrepreneurs and the SME developers. It has a national and international network having in the focus of the cooperation the organizations supporting SMEs, the authorities dealing with SMEs, the representatives of international markets and the partners in the economic development of Budapest, especially the organizations of the neighbouring and V4 countries.