The past year has been an interesting one for British SMEs. The EU referendum and the US election have taken their toll on currency markets creating fluctuations in the cost of overseas travel and expenses and buying and selling overseas.
As of 15th February 2017, the pound is down 14% against the US dollar and 9% against the Euro compared with this time last year. For businesses, this means spending money overseas has become a lot more expensive. Business profits, cash flow and competitiveness can all be affected by exchange rate movements, meaning a keen eye on currency risk is crucial.
But fear not, because we’ve put together this guide to help you minimise risk and maximise return for your business, during periods of currency volatility.