For example, the tourism sector, a sector which will strongly benefit from reduced transaction fees and improved monetary stability, is likely to be among the first to advocate a swift changeover to the euro. The start of Economic and Monetary Union in 1999 is a reality that is quickly approaching. Preparations for the introduction of the euro are well under way. The first step for companies is to actively seek information regarding the euro and the changeover processes. Banks, official and professional bodies, trade associations, consultants and accountants, etc. are valuable information sources and should be actively sought out by business managers.
Companies can benefit by planning ahead.
Effective planning will allow companies to reap the euro's commercial and trade benefits at an early stage and minimise their adaptation costs. Successful management of the euro project will provide businesses with the opportunity to communicate their strategic and organisational capabilities. This guide aims to help small and medium-sized companies to understand the principal issues and strategic implications of the changeover to the euro and proposes a practical approach to its effective management. The Single European Act establishes the goal of a single market in Europe by 1992. February 1992 Signing of the Treaty on European Union in Maastricht.