P523 Teletext 523 Jan 2 00:11:11    ——————————————————————————————  PREPARE YOUR BUSINESS FOR THE EURO The euro is startingP—lpd interminable philosophical discussions about its rights and wrongs. But how much thought has been spared for a business uninterested in the whys and wherefores, but desperately needing to turn a profit every month. Teletext turned to an expert in the nitty gritty of the single currency — Hilary Thompson, Nat'jst's head of European Strategy and Development. ——————————————————————————————————1/7—— by Mark Meadowcroft Download and Analyse Share Prices on Your PC See p533-537 Tax Savings Check-in Family Finance
P523 Teletext 523 Jan 2 00:11:10    ——————————————————————————————  PREPARE YOUR BUSINESS FOR THE EURO How will my business be affected by the launch of the euro, when the UK is keeping the pound for the time being? Hilary Thompson of Nat bst says your firm will be affected if you import, export or have a supply chain that extends overseas. Ms Thompson then sees changes to the size of the market businesses are operating in, competition, pricing and product alignment. ——————————————————————————————————2/7—— UK companies in Euroland 525 WHAT'S ON AT YOUR LOCAL CINEMA? p460 Tax Savings Check-in Family Finance
P523 Teletext 523 Jan 2 00:10:10    ——————————————————————————————  PREPARE YOUR BUSINESS FOR THE EURO What concrete examples can you give of these changes? Nat'fst's euro expert Hilary Thompson says: "Think of Disney Corp. They sell the same products across Europe at different prices in local currency. What will they do? "Or how will companies strategically price goods? An item retailing at £4.99 in the UK will come out at a less neat price in euros." ——————————————————————————————————3/7—— Travelling with euro in pocket 528 finance@teletext.co.uk Tax Savings Check-in Family Finance
P523 Teletext 523 Jan 2 00:13:00    ——————————————————————————————  PREPARE YOUR BUSINESS FOR THE EURO Surely firms will solve the pricing problem simply by either rounding up or or taking away value (reducing the size of a chocolate bar, for example)? Euro-expert Hilary Thompson thinks it's possible, but some industries have set standards to make this more difficult. But she adds: "Consrlbr behaviour has changed. Already, people xravel from one European state to another if they think they can find bargains there." ——————————————————————————————————4/7—— Check your team's share price 527 BUSINESS B HEFINGONOURFBSITE GO TO: www.teletext.co.uk Tax Savings Check-in Family Finance
P523 Teletext 523 Jan 2 00:10:05    ——————————————————————————————  PREPARE YOUR BUSINESS FOR THE EURO I understand huge Anglo-European firms like Unilever or Royal/Dutch Shell being hugely affected, but not a small business like mine? Hilary Thompson of Nat'fst says: "'f don't think all UK business will be affected immediately. "But if, for example, your company makes components for the car industry, your customers are likely to want you to invoice them in euros." ——————————————————————————————————5/7—— Slow road to Euroland 522 BUSINESS BRIEFING ON OUR WEB SITE GO TO: www.teletext.co.uk Tax Savings Check-in Family Finance
P523 Teletext 523 Jan 2 00:11:07    ——————————————————————————————  PREPARE YOUR BUSINESS FOR THE EURO The pound is certain to fluctuate against the euro. How do we cope with this new currency risk? NatWest's Hilary Thompson says this qs an important question, but also a very difficult one to answer. "Speculators will test the new currency and businesses need to consult their banks and accountants over what to do. It depends entirely on the individual circumstances of the company0tnvolved." ——————————————————————————————————6/7—— Sound of sweet tax harmony? 524 TELETEXT ON-LINE INDEX p650 Tax Savings Check-in Family Finance
P523 Teletext 523 Jan 2 00:10:10    ——————————————————————————————  PREPARE YOUR BUSINESS FOR THE EURO Will companies need to open Euro bank accounts and pay staff in euros? Euro-guru Hilary Thompson says firms who regularly trade in euros will need both bank accounts and to think through their euro tax and borrowing needs. But she thinks euro salaries are less likely: "It's possible, but not very probable. With the currency risk involved, it may not help good industrial relations." ——————————————————————————————————7/7—— Investing in Euroland 526 TELETEXT ON-LINE INDEX p650 Tax Savings Check-in Family Finance