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25/01/2011 by Geoff.
Many small businesses see exporting as an attractive way of increasing order books and profits.Along with other pitfalls of this strategy currency fluctuations can easily damage performance. The answer is not that the business needs to become a currency expert but to be aware of the advantage of hedging currency. There are organisations out there that will help you with exporting and who will advise on the impact of currency fluctuations (UKTI).The main lesson to learn is to protect the rate you costed your product at, then if you can get some upside, great!
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25/01/2011 by Geoff.
Sometime ago, following a trip to New Zealand, I reported seeing the wool shop who had sheep dyed pink in the field in front of their farm (shop). More recently the colour (pink) seems to have helped the sale of grab adhesive!
However colour isn’t everything – the grab adhesive company advises success is born of knowing what your customers customer wants!
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