Afford’s basic idea was awarded a prize at the Budapest Economics University 2003 student enterprise development program. The prize financed the translation company’s development.
The university program’s leadership regularly refers to Afford’s good business practices:
“Proving its good decision in choosing market segment, Afford had orders and revenues directly after its establishment, and it was trusted, and rightly so, that after marketing, they would take on more potential customers and, in turn, paying customers. It is worth mentioning that the university and its departments have also appeared as customers... Soon, a competitor with a larger, well-capitalized translation company approached with a partnership offer, which would not just bring fresh capital into the company, but also significantly increase its market share going forward. Relinquishing some autonomy was the price. After much deliberation, they accepted the offer, and today Afford Translations and Interpreting Ltd. is as we find them, on the market.”
Új Pedagógiai Szemle (New Pedagogy Review), April 2006: http://epa.oszk.hu/00000/00035/00102/2006-04-lk-Tobbek-Gyarkorlati.html
The project and, in relation to this, Afford have been mentioned, among a number of others, in the November 2007 issue of Munkaadó Lapja (Employer’s Journal), and in the 10 December 2007 issue of Figyelő (Monitor).
The translation agency, which grew out of a university project and was already profitable in its first year, has started to grow and look for financing from professional investors. In 2006, owners being already active members of the translation market joined Afford. A fresh approach coupled with professional experience, knowledge of the translation industry market, and translation technology.
With its continuous growth, Afford has been able to keep its place between industry players in the increasingly competitive Hungarian translation market.