Bike business reaches cruising speed thanks to Erasmus exchange
An EU programme for entrepreneurs enabled small business owners in Lithuania to expand a bike shop into a flourishing courier business.
When the owners of Lithuanian bike shop Velobic decided to diversify into the bike courier business, support from the EU helped make this transition a success.
Through the programme ,Rimvydas Butkus, one of the owners, spent three months at a bike courier firm in the Austrian city of Graz to test the idea and put together a solid business plan.
Thanks to the experience gained from the ‘Erasmus for Young Entrepreneurs’ exchange, the company has increased its revenue by 10 % every year, and plans to hire new riders over the coming weeks.
“I acquired all the ‘know how’ to manage this type of business,” Mr Butkus says.
The European Commission pays part of the costs of the exchange, which can last from 1 to 6 months.
To date, more than 3 200 people have participated in the programme.
Step by step
- Small business owner Rimvydas Butkus decides to seek on-the-job experience to diversify the activity of his bike shop.
- He applies online to participate in the EU’s ‘Erasmus for Young Entrepreneurs’ programme.
- He travels to Austria for his exchange with a local bike courier firm, during which financial assistance from the EU is made available.
This could be you
Are you thinking of starting your own business, or would you like to expand it to new markets? Then Erasmus could be for you!
- Both new and experienced entrepreneurs can participate
- The scheme runs in 37 countries, mainly European
- An EU grant covers travel expenses and subsistence costs
Find out more
- Erasmus: a win-win deal - watch the video
- More on the Erasmus for Young Entrepreneurs Programme
- To help you go international or get EU funding, contact your nearest representative of the Enterprise Europe Network