Euro training push aimed at business

A major euro training road show is set to cover the length and breadth of the Republic over the coming two months, spreading a practical euro message to up to 5,000 Irish businesses.

The travelling workshops, designed to meet the needs of both business owners and employees, result from the combined efforts of IBEC, Forfβs, Ulster Bank and the Chambers of Commerce.

Described as "hands-on", the 80 training days will cover a range of areas, including banking, cash, handling, till training, software and accounting and will be held both during the day and in the evening.

The workshops will begin next week, having been publicised and arranged through the Chambers of Commerce network in 30 locations.

Mr David Croughan, chief economist and EMU project director at IBEC, yesterday expressed concern that a significant number of Irish companies would not be ready to trade in euros at the beginning of next year.

This could, he warned, lead to a slowdown in business activity as companies struggled with outmoded accounting systems and payments were delayed in the confusion. He stressed the importance of retail businesses contacting their banks now to arrange delivery of sufficient quantities of euro notes and coins in time for the changeover.

Chambers of Commerce chief executive Mr John Dunne said that an "overselling of the Y2K Bug in the months preceding December 2000 could be damaging the level of urgency with which SMEs in particular were treating the euro project".

A survey published last week suggested that almost 80 per cent of the Republic's 160,000 small businesses were unprepared for the introduction of the euro.

"Our concern is that companies are adequately prepared to handle the changeover efficiently and effectively rather than being forced into avoidable expense and disruption by ignoring the issue until it's too late," Mr Dunne said.

Meanwhile, Ulster Bank said it would provide free frontloading of euro notes and coins to its business customers, with free credit on the amount frontloaded until January 15th next year. The bank said it would not charge customers to make cash lodgements in Irish pounds for the first two weeks of 2002.