14th May 2001

SMEs Have Little Fear of Euro

An is4profit.com study of directors and senior managers in British small and medium-sized enterprises (SMEs) shows that more than a third - 36 per cent - believe that adoption of the Euro would have no impact on the profitability of their business.

A further 22 per cent believe joining the Euro would benefit their bottom line, while only 16 per cent felt a decision to join the single currency would have negative consequences for profits.

Commenting on the research Brian Jack, managing director of is4profit.com, the internet-based small business information resource, said:

"Directors' views were uniform across all size categories within the SME sector (up to 250 employees). It's clear to us that no matter what the politicians might say in the run-up to the general election, euro membership currently holds no fear for the majority of small businesses."

END

For further information contact:

Brian Jack
is4profit Ltd
10 Shieling House,
Invincible Road,
Farnborough,
Hampshire.
GU14 7QU

Telephone: 01252 37 66 50
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

or

David Evans
GEA Public Relations Ltd
89 Great Eastern Street
London
EC2A 3HX

Telephone: 020 7729 0586
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NOTE TO EDITORS:

Independent market researchers Dynamic Markets Ltd under the supervision of Principal Consultant Dr Cherry Taylor conducted the is4profit.com research.

Three hundred and fifty interviews were conducted with senior managers and directors of SMEs - businesses up to 250 employees - weighted to cover approximately equal proportions of companies of different sizes. The companies, randomly drawn from Dun & Bradstreet's business database, had an average turnover of £3.5 million.

is4profit is a new, independent, internet-based business information and advisory service for the small and medium-sized enterprise sector.

The service aims to provide smaller businesses - from sole traders to 250 employee companies - with a virtual corporate infrastructure, a one-stop web resource encompassing such areas as expert, practical guidance on business planning legal and personnel issues, group purchasing facilities, cash flow protection and first steps in e-commerce as well as a comprehensive B2B business directory.

The company conducts continuing research to ensure its site content matches the sector's requirements and members are consulted through regular forums which are also attended by other representatives of the business community focused on helping SMEs. Amongst recent initiatives is the production of a downloadable, independent free guide to the practical demands on small businesses resulting from Stakeholder Pensions legislation.