Global reach
Search
    • Grant Thornton in Hungary

          • Grant Thornton Hungary

            The key to success is a partner with comprehensive knowledge and many years of experience. Our ambition is to serve dynamic organizations and we understand ourselves as specialists for the Central European region.

            Being a member firm of Grant Thornton enables us to represent the interests of our clients even outside of Central Europe. We think that the key to success is to have partners with comprehensive knowledge and many years of experience.

            Our consultants are specialists for the Central European region and our firm has strong links with Grant Thornton member firms in the region.

            Over the past years, Grant Thornton has built a strong position on the Hungarian market as a provider accounting, payroll, valuation and Corporate Finance services.

    • Contact us
    • References
    • Audit & Assurance

          • Audit & Assurance

            • Mandatory audits and voluntary audits of single-entity and consolidated financial statements
            • Obligatory and voluntary audits of annual financial statements and group financial statements
            • Audits of foundations
            • Due diligence audits
            • Audits pursuant to capital market law (listing prospectuses and investment fund annual reports)
            • High Level Reviews
            • Agreed upon procedures
            • Special audits (company transformations, mergers, special audits according to stock corporation law, etc.)
            • Accounting audits and management audits, especially as auditors of associations
            • Audits for fraud detection
    • Tax consultancy
    • Tax compliance
    • Accounting

          • Accounting

            • Journal entry of ongoing business transactions and computer-based record-keeping
            • Compilation of regular analysis reports and information on business development
            • Preparation of single-entity financial statements, notes to financial statements and drafting assistance for the report of the management board
            • Preparation of tax returns
            • Notifications to the Companies Register and other public authorities
    • Payroll

          • Payroll

            • Full-scale payroll services, calculation of salaries, taxes and contributions to be paid
            • Management of payroll reports, online sending of pay slips to employees, with password protection
            • Preparation and filing of data disclosures, returns and notifications to the authorities
            • Administration of new and leaving employees
            • Monitoring and administration of leaves and other absences
            • Preparation of employer’s certificates, tax certificates
            • Administration of terminations of employment, resignations, dismissals
            • Salary payments by bank transfer
            • Completion of tax and social security transfer orders
            • Social security benefit claims and administration
            • Performance of social security paying agent duties
            • Representation before the authorities in case of audits
            • Preparing reports
            • Payroll and employment administration advisory service
    • Sustainability, ESG consultancy
    • Strategic consultancy

          • SPECIAL AREAS OF EXPERTISE

            • Corporate governance by owner model
            • Succession management, generational change
            • CEO consulting
            • Creation of corporate strategy
            • Developing effective, collaborative, visible management
            • Development of sales organisations
            • Business mentoring for middle and senior managers
            • Interim management
            • Consultancy in case of planned outsourcing
            • Subsidies related to company formation
            • Business plans and feasibility studies
            • Consultancy and support prior to negotiations with banks
    • Corporate finance

          • Corporate Finance

            • Mergers, acquistions (sale side and purchase side Consulting)
            • Organization of tenders
            • Set up transaction structures
            • Due diligence
            • Project, debt and equity financing
            • Valuation services
            • Public and private capital market transactions (ECM, DCM)
    • Labour administration & HR services

          • Labour Administration

            • Payroll preparation administration: support for the payroll accounting activities, pre-processing of lost working time, vacation days, absences due to illness. Collecting the input data for and preparing them for payroll accounting.
            • Tasks arising in connection with working time banking system, monitoring the issuance of rest periods and ensuring compliance with the rules of maximum working time.
            • Preparing, updating and modifying of HR personnel materials. Drawing up the documentation necessary for terminations of employment.
            • If required, labour registration tasks, requesting social security and tax identification numbers.
            • Conducting internal audits at regular intervals, making recommendations for eliminating any deficiencies identified.

          • HR contact representation:

            • Maintaining contact with employees via the designated channel of communication, to answer everyday questions.
            • Designation of a liaison person between internal financial departments and payroll accounting.
            • Providing opinions with respect to dubious situations, being continuously available for consultation in HR-related questions.

          • HR Consultancy:

            • Development of HR processes, structural systematisation, overview and due diligence of positions and work organisation, organisational development consultancy.
            • Establishing compensation systems, with the examination of tax and expense consequences, as well as internal policies Creating cafeteria and grade systems.
            • Labour market consultancy, supporting recruitment and selection, from the identification of labour demand needs to implementing the onboarding process.
            • Surveying the needs for, as well as creating internal policies contributing to more efficient operations.
    • Valuation

          • Financial Valuations:

            • Company valuation
            • Valuation of intangible assets (know-how, brand name, licence, technology, software, etc.)
            • Business planning
            • Market modelling
            • Capitalization rate structuring
            • Purchase price allocation
            • Impairment testing (IFRS, US GAAP)
            • AMADEUS database research and benchmark studies for transfer pricing

          • Fixed Asset Valuation:

            • Real estate valuation
            • Machinery and equipment valuation
            • Collateral valuation
            • Independent technical advisory
            • Feasibility studies
            • Technical due diligence
            • Valuation for insurance purposes
            • Remaining life estimation
    • Controlling

          • Controlling

            • Interim financial management
            • Reviewing of financial systems and processes
            • Design, implementation and operation of controlling and reporting systems
            • Management of the introduction of business intelligence (BI) and enterprise resource planning (ERP) systems
    • Accounting and Tax automation
    • Transfer Pricing Advisory

          • Transfer Pricing Advisory

            • Transfer pricing advisory
            • Preparation of transfer pricing documentation
    • Whistleblowing

          • Whistleblowing

  • Our experts
  • Insights
  • Glossary
    • Build your career at Grant Thornton

          • Build your career at Grant Thornton

            As a dynamic and growth-oriented company, we offer excellent career opportunities in an international environment.

            We welcome applications by both career-starter and experienced candidates in the following areas: tax consultancy, auditing, accounting and payroll, corporate consultancy, corporate finance and asset valuation.

  • Online offer
NewsRecord number of mid-market businesses expect increase in profitability

Search:

News

Record number of mid-market businesses expect increase in profitability

2024. May 6., Monday

Profitability increases as investment in technology reaches new highs

The resilience of the global economy has been highlighted by a record number of mid-market business leaders expecting an increase in profitability (up two points to 62%) over the next 12 months, with 53% expecting to increase their selling prices (up three points), according to Grant Thornton’s latest International Business Report (IBR).

This bullish outlook saw optimism rise one point to 66%, despite forecasts indicating global GDP growth will remain below historic averages. The uncertainty created by a record number of people voting in national elections this year along with the ongoing challenges posed by above target inflation and higher interest rates, are thought to be weighing on growth forecasts.

Why then are mid-market business leaders so bullish about the prospects for their businesses? It could be driven by the record number of respondents expecting to increase their investment in information technology (up five points to 66%), and a record number of respondents expecting to increase investment in research and development (up three points to 55%).

With both selling prices and profitability expected to rise – absorbing any long-tail inflationary pressures – and optimism remaining high, businesses clearly have the confidence to invest.

With all the hype around AI and its potential impact on business, it is little surprise that business leaders are opting to invest in this potentially transformative area.  However, this is not likely to lead to mass job cuts. A record number of respondents also expect to increase investment in their people (up two points to 58%). This would suggest that investment in technology sits alongside investment in talent and that a combination of both is needed to deliver sustainable growth.

Despite a gloomy geo-political outlook, businesses are also more hopeful about their own international prospects. A record number of respondents expect an increase in revenue from non-domestic markets over the next 12 months (up three points to 45%). Those expecting exports to increase is also up four points to 47% and those expecting to increase the number of countries they sell to is up two points to 42%.

Business constraints

There is, however, no getting away from the gloomy geo-political situation. Economic uncertainty remains the largest constraint cited by business leaders (down one point to 56%). Those citing the availability of skilled workers is up three points to 53% and concerns over labour costs is up two points to 53% – highlighting the challenge posed by persistent or sticky inflation as it has been labelled.

Pressure from energy costs appears to be easing, with those citing it as a constraint down one point to 51%.

Businesses may not be investing in technology solely for productivity reasons. With 50% of business leaders citing cybersecurity as a constraint, it may also be a defensive investment as cyber-attacks become more frequent and sophisticated.

Surprisingly, shortage of finance is the least cited concern for business leaders, remaining static at 40%. This may be explained by more businesses holding excess cash on their balance sheet according to research by the Harvard Business Review, which acts as a form of insurance against adverse events.

Peter Bodin, CEO of Grant Thornton International commented: “Our latest IBR findings highlight the continuing resilience of the global economy and of the global mid-market. It’s clear that, with improving profitability, CEOs are targeting investment in innovation, whether through R&D or technology, to win market share in a flat global economy. The pressure is clearly on business leaders to make the right investment choices to make sure they are not left behind by competitors – or their customers. Relying on what has always worked in the past may no longer be good enough if AI delivers the transformation some predict it will.

“With a global surplus of alternative financing and record-high cash reserves, our data highlights that concerns regarding finance shortages have also waned. The value of maintaining cash reserves to navigate unpredictable market conditions could now be put to the test.

”Despite the ongoing uncertainty created by geopolitical tensions and a record number of national elections, businesses simply cannot afford to do nothing. Those business leaders prioritising strategic investment and operational resilience to optimise their operations will be best positioned for success.”

Newsletter

Stay informed about the latest professional news.

Subscribe

Read our previous news and analysis.

  • HU
  • EN
  • DE
    • Global reach