BUM beginnings, or why did the Budapest Chamber of Commerce and Industry decide in 2013 to create the Shopping Street Management?

When and for what purpose did BKIK set up BUM?

Since the early 2000s, the Budapest Chamber of Commerce and Industry has been actively involved in the commercial situation in the capital. The shopping street management project was launched in 2013. At that time, the serial closure of shops and restaurants in the capital, which had been operating for decades, and the functional decline of traditional shopping areas and living spaces became significant. The 'emptying out' and 'slumification' of the city centre became noticeable, with a drastic flow of consumers towards the fashionable malls. Building on Vienna's positive experience in this area, BKIK set up the Shopping Street Management, or BUM for short, to help businesses survive, to revitalise the streetscapes and to coordinate the work of the professional partners involved.

How do BUM and BKIK fit together?

Both organisations operate on a strong professional basis, in close cooperation with each other and in the interests of business. The main task of BKIK is to promote the development and organisation of businesses, which are the economy of the capital city as a whole, by respecting the freedom of economic competition and operating on the principle of self-government, while BUM seeks to stimulate local trade through local cooperation and communities, with a strong cultural and communication focus.

In the time since the BUM was founded, what have been the plans that have been realised?

BUM works on the basis of an annual plan and an annual budget. Our initial plans and those that have evolved along the way have so far been implemented almost in full. Adverse changes in external circumstances, such as pandemics, higher than expected rents and inflation, have forced us to re-plan from time to time, but we are constantly looking for sustainable and innovative solutions.

How do you evaluate the activities of BUM?

The public's feedback shows that BUM is effective and useful. We have been able to help many small and medium-sized entrepreneurs in different districts of the capital, and we have been able to work in partnership with dozens of social organisations and municipalities for more than 10 years. In the ever-changing economic environment, BUM's professional portfolio is constantly expanding and becoming more colourful, since at the beginning we had 7 Budapest districts and streets as partners, and today we have 18. It is important to mention here that, based on our experience, the thematic Budapest neighbourhoods have recovered more quickly after the badly remembered Covid period.

What is BUM's plan for the near future?

Our strategy is to provide increasingly efficient services to an ever-expanding range of partners. At the same time, we are constantly expanding not only the number of partners we work with, but also the number of experts we work with. We know that the most important tool for economic recovery is to raise resources. We believe in the synergies of cooperation and the need to strengthen the entrepreneurial society.