thirds of small businesses in the UK are exposed to currency risks following
the Brexit vote, according to East & Partners, a banking market research
and analysis firm.
The firms’ research
shows that in the first half of 2016 all “...
UK small- and medium-sized businesses (SMEs) remain exposed and unprepared for the economic impact of the Brexit vote on their FX costs, according to a survey by EarthportFX, a cross border payment network.
Despite the fact that 77% of survey respondents acknowledged the need to change their approach towards foreign exchange hedging in the face of highly volatile currency markets and the depreciation of the pound following the UK's decision in June to leave the EU, 80% admit they have made no changes to their hedging strategies.