When you are planning on setting up a business in Hungary there are lots of factors that should be taken into consideration
. However the most important one is the language barrier. Hungarian is a very unique language and only spoken by the people who live in the country and about another ten million people who live outside of the borders of Hungary. So my guess is that you are not familiar with it at this point. That's not necessarily a problem, although there are other difficulties that might arise regarding the language.
The first difficulty might be that not everyone speaks English in Hungary and even if they do it might not be to a very high standard. Naturally there are exceptions and the younger generations are much more fluent in English than the generations before. Still, you might need to have your correspondence translated to Hungarian for you before you can properly communicate.
Before setting up your business you might want to buy a shop or office space, register your company, just to mention a few. You will need to have these official documents translated from English to Hungarian before they are valid.
Based on the above mentioned it is clear that you will have to get translations done from time to time. I would advise you to avoid online machine translators because they will translate words but not the context and true meaning of your text. They know the spelling and grammar but can't think and interpret like a human translator would. Poorly translated documents or correspondence are unacceptable in the business world.
Try to look for a native speaker who was born in the country and also lived and studied there for most of his/her life. That way you can be sure that the translator will be completely familiar with the language and culture as well. In addition to that make sure that your translator has lived and worked in an English speaking country therefore being fluent in English but also know the culture, slang and technical words.
The journey will not be easy. Explore Hungary first then create an extensive plan before you decide to enter the Hungarian business word.