Proposed Small and Microenterprise Program Activities for USAID in Hungary: The GEORGETTE Project
This report describes the USAID Mission funded Growing Enterprises, Organizations, Resources; Gaining Expertise, Technology, Trade, and Entrepreneurship (GEORGETTE) project that aimed to create new linkages and collaborations among technical assistance providers, savings cooperative banks and local government to assists the small and medium enterprise (SME) sector in Hungary.
Hungarian SMEs face challenges of lack of capital, knowledge and information gaps among business owners and a public policy environment that does not adequately support private enterprise. The ultimate goal of the project was to enhance the ability of Hungarian SMEs to compete in domestic and international markets. The GEORGETTE project would enable SMEs to operate in a less hostile economic policy environment and have higher-quality business and finance. It specifically aimed to:
- Upgrade financial services for SMEs;
- Upgrade business services provided by technical assistance organizations;
- Increase involvement of local government in the development process.
The project would operate in a few counties in Hungary that met certain criteria. Optional enhancements to the project included linking local credit providers to the larger financial system, expanding access by SMEs to equipment leasing and creation of commercially operated small businesses.