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Small firms and currency fluctuations

Even if you are not trading internationally, the value of the pound is likely to affect your business in some way - not least because so many products sold in the UK are made overseas. Vicki Arnstein considers the impact of exchange rate fluctuations on the UK's small firms.

Research published by foreign exchange broker World First suggests that small firms importing from the US and the EU lost almost £900 million in 2007 by failing to protect themselves from the effects of currency fluctuations.