It is possible that some domestic UK businesses which do not currently experience exchange rate risk will do so in future. This may affect companies who charge different prices for their products in countries within the euro zone. On the other hand, companies buying from the euro zone will be able to compare prices more easily. Either way, this will sharpen competition. Banking systems will be ready to make payments in euro.
Most banks are likely to offer euro accounts for businesses.
Most retailers do not expect to use the euro in the UK from 1999. Subsidiaries owned by a parent company based in the euro zone may find that its Group's accounts will change to the euro. Businesses who want to export into the euro zone may be at a disadvantage against competitors within the zone who share the same currency as the importer. Sharing the single currency may also make them easier. However, UK companies purchasing goods and services may also benefit.