GUIDE SHOWS SMALLER COMPANIES HOW TO COMPETE IN EUROPE
In a move to encourage more small to medium-sized companies to grow faster through a sharper focus on business opportunities in Europe, Invest NI has produced ‘Trading with the Euro’, a new guide to opportunities within the Eurozone.
The guide is being distributed to over 1,700 client companies and will be available on the web.
Launching the guide, Tracy Meharg, Invest NI’s Managing Director of Innovation and Capability Development Services, said: “This publication has been produced in response to a demand from many of our companies for the latest guidance on doing business in the euro.
“While many companies are already trading successfully in the euro, this guide is designed to provide further support to those seeking to accelerate growth in exports by targeting the Eurozone marketplace.
“Many SMEs now recognise the opportunities in the Eurozone’s in terms of business potential and from sourcing supplies without the problem of currency fluctuations and have been seeking advice from our Euro Info Centre (EIC).
“The guide is packed with a wealth of practical advice and will increase knowledge and capability within companies. Another key objective of the publication is to assist and encourage them to add value to their business by focusing on the vast range of opportunities within the Eurozone,“ she added.
Welcoming the new guide, Dominic Downey, Marketing Director of Evron Foods in Portadown, said: “We have built a strong base in the United Kingdom and Republic of Ireland and are now aim to achieve faster growth by marketing our products aggressively in Eurozone countries.
“The ‘Trading with the Euro’ guide will be tremendously important as we seek to capitalise quickly and avoid possible setbacks from the extent of interest in our products that was demonstrated most recently during our participation on the Invest NI stand at the SIAL food exhibition in Paris,” he added.
Evron Foods is a regular user of Business Information Services and the EIC at Invest NI’s Upper Galwally location.
The company is a leading manufacturer of frozen and chilled bakery products, serving the retail, foodservice and wholesale markets in the United Kingdom, Republic of Ireland and other parts of Europe.
The 64-page ‘Trading with the Euro’ guide has been produced by PWC for Invest NI, which has also taken over the information role of the Euro Preparations Forum, the body established by the Department of Enterprise, Trade and Investment to promote the single currency in Northern Ireland.
The guide provides information to local companies on the changes they need to make in their financial and accounting systems to take advantage of the Euro. This covers procedures for tax and VAT and multi-currency accounting systems.
In addition, the guide offers extensive marketing advice to help companies to develop a clear strategic approach, for example in areas such as pricing, value and branding, for accessing the Eurozone.
Copies of the ‘Trading with the Euro’ publication may be obtained from the Euro Information Centre at Invest NI on (028) 9055 2128 or from the website www.investni.com/euroguide