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SMEs at risk of losing over £10bn because they don’t understand foreign markets

How huge Ebury puts it as high as 10bn.

According to a statement, lack of knowledge of foreign markets puts businesses in danger when transferring money abroad.

Lack of market insight means businesses are more likely to engage in riskier behaviour.

The problem has been compacted by lulls in the foreign exchange market, instilling a false sense of security.

Ebury advises businesses to make significant investments in understanding foreign markets in order to understand the risks of transferring money abroad, and to take advantage of opportunities there.

“We need to see more SMEs empowered with the correct skills and knowledge to navigate international markets,” said Enrique Diaz, chief risk officer at Ebury.

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