Kinga Hegedüs

András Ivan

Tamás KozmaDennis MeinkeTamás Kizman

United Kingdom

Agenda

General informations Cultural differences Hofstede-analysis Law comparison

General Informational

Great Britain, Northern Ireland, Wales, Scotland

Population: 60 million Form of state:

constitutional monarchy

Religions: Anglican, Roman Catholic, Presbyterian, Methodist

Hungary Population: 10 million Form of state:

Republic Religions: Catholic,

Presbyterian, Evangelic

Everyday customs

Appearance of gentleman

Polite trappings „Please”, „Thank you”

American don’t say anything principles

Do not complain, keyword repression

Friendly, but don’t like create friendships Keep three step

distance „Hello” only for

friends

More polite ways to greet

Hungary is a friendly nation

Punctuality is also expected

Business relations 1.

Most important is trust

In business the facts are more important than the persons

Tell if interested in something

Short negotiations Long decision making Negotiation always

ends with handshake

Money is the most important

High bureaucracy Good relationship is

important Short negotiation and

dealines Hungarians are

impatent

Business relations 2.

Don’t like innovative things

Can’t let their perspectives

Conservatives Require precision Contact us via

intermediaries Impropriety the

hands in pocket Make joke about the

royal family is prohibited

Hierarchy in companies

Looking for innovative things

Require precision Highly educated

workforce Hierarchy in

companies Foreign investors

Hungarians like work with foreign companies

Legal comperism

Common law There are some

basic written law Need a personal

agency who make law analisys for our new economical operation

Legal plan in every operation

Code civil Written law Easy to read but

also need advisor Needs to get

familiar with legal regulations

Market information 1.

Stable government Low corruption level- only 17th

Geography Lot of logistic possibilities - air, water, land, Well-developed infrastucture Rainy weather - Flood

Communications Infrasructure Internet, mobile internet well-developed Fast postal services, DHL, UPS, FedEx Safety communication

Market information 2.

Future evolution Easy to find retail partners

Also outside of EU Opportunity of expansion

Humane working climate Strong work organisations Frindly work conditions

Health insurance Companies kindergarden

Good salary

Appearance

Referenced to take care of appearance during the negotiation

Conservative Bowler-hat, walking-stick

Men are expected to wear a dark suit Women wear skirt Discreet colours and clothes

Establish a company in England Advantages

There is no any legal oppstacle

Possibility to do it from Hungary

Lot of Hungarian workforce

3rd largest economy

High GDP (9th in the world)

Since 2004 free movement of goods and people

Disadvantages The cost of utility is

expensive Hiring a bulinding is

also expensive Bank account

opening is only personally

The cost of exchange of money

Hofstede

Thank you for your kind attention!