Month: March 2024

Bilateral trade agreements are fundamental pillars of economic growth and global prosperity, fostering mutually beneficial relationships between nations. The bilateral trade connection between the United Kingdom and Hungary stands as a testament to the profound impact of international collaboration on economic development. In this blog post, we’ll delve into the significance of bilateral trade and explore how the UK and Hungary have forged a robust economic partnership to drive growth and innovation.

1. Mutual Economic Benefits: Bilateral trade agreements facilitate the exchange of goods, services, and investments between countries, leading to enhanced economic cooperation and shared prosperity. For the UK and Hungary, bilateral trade serves as a vital engine for economic growth, creating opportunities for businesses to access new markets, expand their customer base, and increase profitability. By leveraging each other’s comparative advantages and complementary strengths, both countries can maximise their economic potential and drive innovation across various sectors.
2. Market Access and Diversification: Bilateral trade agreements provide businesses with preferential access to foreign markets, reducing trade barriers such as tariffs, quotas, and regulatory restrictions. The UK and Hungary benefit from enhanced market access through their bilateral trade relationship, enabling companies to explore new business opportunities, establish partnerships, and diversify their export destinations. By expanding market reach and tapping into diverse consumer preferences, businesses can mitigate risks associated with domestic market fluctuations and achieve sustainable growth.
3. Strengthening Diplomatic Ties: Bilateral trade agreements foster economic integration and contribute to the strengthening of diplomatic relations between nations. The UK and Hungary have cultivated a longstanding bilateral partnership based on shared values, mutual respect, and a commitment to promoting trade and investment cooperation. By engaging in dialogue, collaboration, and diplomatic exchanges, both countries can address common challenges, build trust, and foster goodwill, laying the foundation for long-term cooperation and friendship.
4. Promoting Innovation and Competitiveness: Bilateral trade agreements stimulate competition, innovation, and entrepreneurship by fostering an environment conducive to cross-border collaboration and knowledge exchange. The UK and Hungary have established thriving innovation ecosystems characterised by research institutions, technology hubs, and startup incubators, driving advancements in technology, healthcare, and renewable energy. Through bilateral trade, businesses can harness the benefits of shared expertise, resources, and best practices, enhancing their competitiveness and accelerating economic growth.
5. Facilitating Investment Flows: Bilateral trade agreements play a critical role in facilitating investment flows between countries, encouraging foreign direct investment (FDI) and stimulating economic development. The UK and Hungary have attracted significant investment from each other, with businesses seeking opportunities to expand operations, access talent, and leverage strategic advantages. Bilateral trade agreements instil confidence and encourage long-term capital inflows, fueling economic prosperity and job creation by fostering a conducive investment climate and providing legal protections for investors.

In conclusion, the bilateral trade relationship between the UK and Hungary exemplifies the transformative power of international cooperation in driving economic growth, fostering innovation, and strengthening diplomatic ties. By embracing the principles of free trade, mutual respect, and shared prosperity, both countries can harness the full potential of bilateral trade to create a more prosperous and interconnected world. As global challenges continue to evolve, bilateral trade remains a cornerstone of economic resilience, stability, and prosperity for nations around the globe.

Dr Erika Szita-Szegedi, L.LM

Legal advisor of HBBA

CEO of STC

Secure your place and find the team to accelerate your dream.

The idea of transforming a dream into reality fills most people dread. It’s the magnitude of having to invest the very best of your self, your time, your talent and your treasure. You have to learn to handle failure, judgment and live with constant uncertainty and regular challenges that can come at a moment’s notice. Sounds scary right?!

Well, for the crazies, the dreamers, the innovators, disrupters, visionaries, mavericks and those who just want to change the world, this is the life they choose to live that few talk about.

Despite the negatives, the rewards of leaving a legacy drive and inspire us to live out our dream and go for it. The rewards are greater than the risks, so we just can’t do “normal”. We want more than a mundane life can offer.

The HBBA InvestorFest ’24 was birthed for visionaries who dare to dream globally. Their journey cannot be done alone and that is why we are offering international support.

The deadline for registration is 15th March 2024 and it will be held at Hungary House, 17-19 Cockspur Street, London, SW1Y 5BL, on the 26th March 2024 from 2.00pm – 7.00pm. Book your place now!

Why not plan for the HBBA InvestorFest ’24 by preparing how you pitch your business, ahead of time, and make the most of every opportunity with every investor?

Here are the three essential tools we recommend to accelerate you into the spotlight and make you more investable:

Business Model Canvas.

One of the best tools for entrepreneurs that serves as a one-page business plan.

Most banks are happy with a one-pager, together with your figures, and most investors don’t have the time to read through many pages to pull together your story.

You can watch a video https://www.youtube.com/watch?v=QoAOzMTLP5s to get a great overview and download for FREE here – https://www.strategyzer.com/library/the-business-model-canvas

A business model canvas is a game-changer for budding entrepreneurs and seasoned pros alike looking to communicate the shape of their business.

One Pager:

Your business profile. A snapshot at a glance showing a brief overview of the whole project is great for a pre-meeting.

A one-pager gives a condensed outlook of the vision and should convey what you are ultimately trying to achieve. It won’t answer everything, it rather serves as a more detailed profile of your business.

Here are a few subjects you need to make sure the one-pager covers, remembering that a one-pager is the size of an A4 piece of paper.

>Business Summary:
Overview of the business approach.

>Vision:
The end goal, level of impact (even better if you have a metric in it)

>Problem:
What is the pain your audience is suffering?

>Your Solution:
How you soothe the pain with the promise

>Competitive Advantage:
Why you and why now?

>Target Market:
Size of the opportunity and market share you are looking to go after

>Team:

A list of the key stakeholders

Slide Deck:

Don’t punish your audience with PowerPoint. Sitting through 52 slides is a shockingly bad use of time for anyone, including you. In reality, you need to be able to tell a clear story intentionally.

Make sure your story includes 5 key things:

>Design –
If you are asking for £500,000, then invest something in design. A cheap-looking presentation is telling investors that their money isn’t safe.
>Disrupt –
What is the level of impact your product or service will bring? What makes you different from what is already out there?

>Distance –
Who are the team behind the dream? Make sure you show who they are and how they have invested already.

>Data –
Show the size of the opportunity once an accountant has taken a look at your projected numbers

>Decide –
What do you want? Make sure that what you are asking is clear and that the decision to invest is easy.

Slide decks are rather like CVs, people have seen thousands, so make yours memorable – 12 is enough.

If you are brave and feel that you can’t get all the information in, then a video is advisable, no longer than 60 seconds.

SUMMARY:

People invest in people.

Too many people get the investment focus wrong. Investors invest in people and while an ROI is important, interpersonal clashes will make life unnecessarily difficult.

Just as much as the investor has you under a microscope, you also need to ask the right questions to determine if they are the right fit for you. Do your research, get your testimonies and understand their success and track record.

Book your place at HBBA’s inaugural InvestorFest 2024 and turn your idea into an investable proposition. The team that you need behind your dream could very well be in the room.