World First

Is currency volatility a concern for Britain’s SMEs?

Objective

With the EU referendum taking place in June 2016, World First, the global foreign exchange company, were interested to see how businesses in Britain felt about the potential impact of currency volatility throughout the year.

Solution

World First commissioned a survey via YouGov’s British and US SME Omnibus in 2016 to track the currency needs and outlook of SMEs.

Results

The research found that just under a quarter of SMEs stated they had felt the negative impact of exchange rate movements in the period from April to June, almost 10% more than the previous quarter.

By getting the opinions of British senior decision makers, the research has helped World First to better understand the SME marketplace, as well as gain insight in to the habits, views and concerns on currency and foreign exchange from business perspectives.

Being a company with a global reach, World First also chose to replicate the survey in the US. Gaining the views of SMEs in both Britain and the US has meant World First is not only able to get a snapshot of the market to identify trends that feed into thought pieces and reports, but also presents the opportunity to better understand the concerns of businesses with international currency needs. In addition, the tracker had helped to inform World First’s “SME Global Trade Barometer” report and the data has allowed for comparison against trends found among their own client base.

About the client

World First is an international foreign exchange company, offering currency exchange and international payments to private clients, corporate and e-commerce clients in the UK and a number of other countries.