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- BCC Poll: the weakness of the pound has brought mixed benefits for British exporters
BCC Poll: the weakness of the pound has brought mixed benefits for British exporters
The sharp depreciation of the pound sterling against the US dollar and euro still hurt almost as many exporters as it helps. These are the findings of the latest survey conducted by the Association of British Chambers of Commerce (BCC).
A cheaper currency usually helps exporters in the medium term, but the BCC said that the weakness of the currency had a ambiguous impact on member organizations, mainly small and medium-sized businesses. About 25 percent of companies said that the weakness of sterling has allowed them to increase their export earnings, but 22 percent said that the dynamics of the pound has led to a decrease in the profitability of their overseas sales. Meanwhile, almost half of the companies surveyed said they do not manage their foreign exchange risk, and do not plan to do so.
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