Does your business really understand its tolerance to currency risk?
Author: Joanne Hunger, Director Central Europe & Ireland, Western Union Business Solutions
As up to 8,600 Irish businesses trading with the UK stress test the longer-term implications of any Brexit, such as divergent regulatory frameworks and potential tariffs, it’s the prolonged period of short-term financial market volatility and exchange rate uncertainty which warrants some attention. This issue matters – especially for SMEs – because research conducted by Western Union shows that 28% of small to medium size firms who trade across borders can only tolerate unfavourable exchange rate swings of up to 5% before facing financial difficulty. Click below to learn how businesses today are responding to and countering this exchange rate volatility to help mitigate its impact on pricing, profits and cash flow.
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