Investment & Fund Management
backed by the European Investment
Full Credential Description
Grigoris Byros, who operates a catering business in Trikala, Thessaly, faced challenges in scaling his operations after founding his company in 2018. Initially, the business was slow to grow as he adopted a cautious approach, focusing on low-risk opportunities. However, by 2019, he aimed to expand his services to cater for larger events, including weddings and baptisms, and to offer a more comprehensive package that would include decorations and entertainment.
To address the limitations of his existing kitchen equipment, which restricted him to catering for events of up to 100 guests, Grigoris sought financial support. He secured an EU-guaranteed loan from the Cooperative Bank of Thessaly, backed by the European Investment Fund (EIF) under the Investment Plan for Europe. This funding allowed him to invest in new kitchen equipment, significantly increasing his capacity to manage events for up to 250 guests.
The loan was crucial for Grigoris, as it provided him with a competitive advantage, enabling him to enhance his service offerings more quickly than he could have through traditional financing methods. He noted that the support from the EIF helped him prepare better for the market, allowing him to introduce improvements in his operations within a year, rather than taking longer to finance them gradually. Grigoris remains hands-on in his business, ensuring high-quality service and food at every event, which is essential for maintaining client satisfaction in the high-pressure catering environment.