Investment & Fund Management

Almaz faced significant challenges in securing financing for his start-up, "Happy Foods," which aimed to provide healthy-eating canteen facilities to schools in Dublin. After six months of seeking financial support, he encountered reluctance from traditional banks to lend to small businesses, particularly start-ups. This barrier was a common issue for entrepreneurs in the food service industry, where access to capital is crucial for growth and sustainability.

The tailored solution came in the form of a micro-credit loan of EUR 20,000 from First-Step Microfinance, which was backed by the European Investment Fund (EIF). This funding enabled Almaz to establish his business and focus on promoting healthy eating in educational institutions. With the financial support, he began assembling a team to expand his services into more schools, thereby creating additional jobs within the catering sector.

The results of this initiative have been notable. Since its inception, "Happy Foods" has received overwhelming support from students and parents, with local deputy Mary Wallace T.D. highlighting the positive impact of the healthy lunches on the school environment. The initiative not only contributed to better nutrition among students but also enhanced the overall teaching environment, demonstrating the broader benefits of supporting small businesses in the community.