The practical issues facing Irish SMEs in changing over to euro are emerging. The clear message from participating businesses is - start planning for euro now, no matter how small your business. Euro changeover requires a practical approach The practical issues facing Irish SMEs in changing over to euro are emerging from the Loughrea Euro Town Project. Accounting software has emerged as a key issue for Loughrea Eurotown Project participants. Upgrades were needed to allow them to trade fully in both currencies during the transitional period.
Some upgrades produced by Irish software houses include such a dual currency option.
Businesses in Loughrea, particularly those that maintain a debtor base, felt they required this capacity. Upgrades that simply include a conversion calculator essentially remain single currency packages. Users of customised software are having similar difficulties. The software is of German origin, but serviced through an UK supplier. It may be a year before the required upgrade becomes operational.