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Not everything about the 2010 Soccer World Cup will be good for small businesses in the Helderberg, if international experience of similar events is anything to go by.

Artist Pandelis Melissinos and his father Stavros run a sandalmaking business in Athens, Greece, where the Olympics were held in 2004. According to Melissinos, in the run-up to the event everyone thought they were going to make millions.

But while many Athenians did, the truly big money was made by shrewd foreign entrepreneurs with deeper pockets and stronger currencies behind them.

International reputation
Melissinos' shop was opened by his grandfather in 1927. Up until a few months before the start of the Olympics, the business was situated at the same premises on one of the city's high streets where it had enjoyed patronage from people around the world and such celebrities as the Beatles, Jacqui Onassis, Sophia Loren and Barbara Streisand. It built an international reputation, but storm clouds gathered when the city started to see a deluge of foreigners, who were eager to cash in on the money-spinner sporting event.

Melissinos says he discovered many of these business people build their wealth by following these events around, taking up leases and opening shops to cater to fans and tourists.

Of course, it's all perfectly legal. But the problem is - these businesses don't stay long and all the money they generate leaves the country.

In Melissinos' case and perhaps with more lucrative prospects in mind, the landlord increased the rent beyond what the sandalmaker could pay and they were forced to move. They were among the lucky ones to find a premises among the few still available and affordable in the overcrowded city - in an alley with vastly diminished traffic. While he believes it was their good reputation that saved the business from going under, the same cannot be said for many others.

Their high street premises was taken up by a foreign-owned enterprise, which left when the Olympics came to an end. The rentals however, generally remained at the same high levels.

New tenants were found and business across the city eventually returned to normal.

A good dose of realism
Melissinos says in general, the Olympics were a major boost to the city and country's infrastructure networks, and that despite his company's vastly poorer location, it had still prospered from increased tourist numbers before, during and after the event.

But he is in no doubt that optimism in the advent of international events such as the Olympics should be tempered with a good dose of realism.

Pandelis Melissinos shared his views with a DistrictMail journalist on holiday in Athens during December.

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