It’s fair to say that 2017 has been a pretty tumultuous year so far. Donald Trump is the President of the United States of America, the results from the French elections were a little too close for comfort, and there is now a UK general election to look forward to. However, it is perhaps the triggering of Article 50 and the start of the Brexit negotiations with the European Union that has given UK businesses the most food for thought.
Once the UK has withdrawn from the EU, UK businesses will likely be subjected to new tariffs and regulations, which will almost certainly affect foreign exchange markets. As such, companies need to be ready to respond accordingly, particularly if we’re heading for a ‘hard Brexit’.
What businesses can do next
To address this, we’ve worked with one of our partners, Tectona, to explain the currency conundrum and show you how to manage the changing currency climate.
Our efforts have culminated in a guide that will help you navigate through an environment of uncertainty. ‘The Currency Conundrum’ forms part of the Tectona Entrepreneur’s Guide Series. It explains why there are many reasons to be worried, what you can do to protect your business, the variety of solutions that are available to you, examples of what other businesses are doing, and ideas as to what you could do right now.
It includes a link to an interactive tool that shows you how much you could have lost had you not protected your business against the dramatic fall in sterling following the EU referendum. There are also some Tectona tips available and you can book a free Currency Health Check with our risk management specialists.
So, go and download the guide now, have a read and learn how to protect your margins in these uncertain times.