Are you prepared for the collapse of the Euro?

There is no escape from the Euro in the news. Politicians in the Eurozone are still faffing around. If the Euro collapses, commentators say that it will devalue. It could become Euro A (strong countries) and Euro B (weak countries), or countries could revert to their previous currencies.

Time for you to consider what the impact might be on your business and to start taking preventative measures....remember your "if onlys" when the banks got into trouble only a couple of years ago.

If your business is just dealing with UK clients and suppliers don't think that it will not impact you because many of your clients and suppliers will be exposed...so you will be too.

What to consider:

• Assess where your business is most at risk, plan for it and implement.
• Maintain as little cash as possible in your Euro denominated bank accounts.
• Collect from clients you invoice in Euros as quickly as you can - better still bill them in Sterling.
• If you are drawing up new contracts with Eurozone clients insist on Sterling.
• If you have subsidiaries in the Eurozone, repatriate profits back into the UK where you can.
• Talk to your bank manager about hedging.

As a specialist financial advisor to marketing agencies and professional firms I know how easy it can be for focus on cash flow to relax and how quickly that can translate into trouble for these people businesses.

As a first step, why not pick the phone up and call John or email him and arrange to meet up.

John's website is: http://www.nomizon.co.uk/

His credentials: http://www.linkedin.com/in/johntoppin