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August 23, 1998

MID-RANGE UK COMPANIES NEED THE MOST HELP WITH EMU

By CBR Staff Writer

Mid-market British companies defined as those with revenues between $16.3m and $815m will be most affected by European economic and monetary union (EMU), says a new report by the Tate Bramald Consultancy. However, companies within this sector complain that they are not receiving enough practical support from both IT suppliers and government agencies. Although two thirds of the executives interviewed by Tate Bramald claimed their companies had begun to prepare for the IT implications of EMU, less than half had received EMU information from their IT suppliers. Overall, only 10% of respondents said their organizations had established a specific EMU team to deal with the issue. This lack of momentum may be due to a UK-centric attitude around 41% of UK mid-market companies have no overseas business. However, some 20% of companies in this revenue sector derive more than half their business from overseas.

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