The Euro and Your Business

The coming of the Euro currency raises a lot of hopes for businesses, but also several questions on how to prepare for the new era about to begin in 1999.

On the first of January 1999, the euro will become the official currency of the Economic and Monetary Union with the initial group of countries named in May 1998. In practice, companies of EU member states who met the convergence criteria will start doing business operations in euros and by 2002 euro notes and coins will be put in circulation. No later than July 2002, the Finnish markka, the Italian lira, the French franc and other currencies will cease to exist as national currencies.

What will be the most significant changes for companies upon the arrival of the euro in January 1999? How do small and medium enterprises need to prepare for the coming of the euro? What kind of problems should enterprises expect to face with the introduction of the euro?

These are some of the issues that will be discussed from the perspectives of Heikki Urmas, Dean of the International Bachelor of Business Administration Program at the Helsinki School of Economics in Mikkeli, and Heikki Hämäläinen, director of Prisma Supermarket in Mikkeli.

· Some issues that SMEs need to consider

· Dual-displayed price labels and other specific problems

· Many companies unprepared: Dean Urmas, HSEBA

© Isto Felin & Stéphan Martin / Nettiradio Mikaeli 1998