By Martina Pangeni and Anastasia Shovkoplias
The UK’s cost-of-living crisis means that everyone is struggling to make ends meet. Small businesses are feeling the effects of inflation more than almost anyone, making it hard for them to pay wages and bills. Some have experienced financial struggles so dire that they have been forced to close.
Café Euro has been open for nearly 20 years on Holloway Road, an oasis of quiet owned by Greek-born Alex Mitrides, 60, and English wife, Josephine, in her 50s. Even though the café is unassuming, it gets very busy as thousands of people drive along and walk through the area.
But spiralling costs of food, supplies and wages, coupled with extended Covid lockdowns, means that it is becoming increasingly difficult for them to stay afloat. Will they survive – or will this iconic eatery, that caters to both local workers, occasional shoppers and students, become just a memory (albeit a very tasty one)?
“We have to try to get in as many people as possible to get them to sit down and pay bills,” said Josephine, speaking quickly as she waited on customers. The place was packed, with only two tables free.
“Now people are not having as much money so everything is slowing down, and to buy all the products we need is very expensive.”
The family couple, who own the business, work incredibly hard – six days a week on average. Alex cooks the food in back while Josephine helps him out and also waits tables.
The Euro offers two different cuisines: Greek and British, and customers can order anything from a Greek breakfast of grilled halloumi and lounza (dried smoked pork tenderloin), olives, cucumbers and boiled eggs, to more traditional dishes of bubble and squeak, liver, and black pudding and chips.
Many of the customers are regulars, from local builders to students and staff from London Metropolitan University, which is just down the road.
Though the café is one of the busiest on the road, the owners are really struggling with bills and product availability. Trying to cater to two different cuisines means getting in a lot of different products, including canned goods and fresh items.
“We have always kept our prices affordable and reasonable but now we have to increase the prices due to the situation and the customers are not so happy about it,” says Josephine.
With everyday costs rising, increasing numbers of employees are asking for pay rises. Small businesses grappling with the cost-of-living crisis themselves must either pay more or risk staff leaving to look for better-paid work.
Alex added that it is becoming increasingly difficult to work with less staff, as they had to let some employees go due to their inability to pay rising wages.
“We have been here for almost 20 years and I don’t think the business is going to run for another 20 years, as our kids have started their own work,” he said.
Added Josephine: “Less people are coming in, it’s harder to get people to work for this money, it’s very expensive.”
With everyday costs rising, increasing numbers of employees are asking for pay rises. Small businesses grappling with the cost-of-living crisis themselves must either pay more or risk staff leaving to look for better-paid work.
Grace Graham, from the Federation of Small Businesses, says that small enterprises are facing many difficulties due to both Covid and the resultant cost-of-living crisis, stemming in part from Brexit and the war in Ukraine.
Richard Evans, who used to work on Holloway Road, was a regular at the Euro for many years. He says it is a huge step above places such as Costa or Starbucks, as it is “actually a nice place to eat” and great value. His favourite dish is the Chicken Shish, which could easily feed two.
“It would be a very sad day if Café Euro disappeared from Holloway Road,” he said. “They have been cooking and providing great meals for many years.”
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