Poll: Is the recent fall of the British Pound against the EU Euro affecting your business?
Thread poster: ProZ.com Staff

ProZ.com Staff
Local time: 06:18
SITE STAFF
Jan 6, 2009

This forum topic is for the discussion of the poll question "Is the recent fall of the British Pound against the EU Euro affecting your business?".

This poll was originally submitted by Kasia E. Slobodzian

View the poll here

A forum topic will appear each time a new poll is run. For more information, see: http://proz.com/topic/33629


 

Lawyer-Linguist  Identity Verified
Portugal
Local time: 14:18
Dutch to English
+ ...
No Jan 6, 2009

I only invoice in euros, regardless of where my client is based.

Currency and 30-day payment terms are non-negotiable as far as I'm concerned. I'm flexible regarding other issues, but the exact amount to be received and when it's going to be received are not things I'm prepared to haggle over - luckily I work in language pairs (especially Dutch to English) where demand for specialised legal translation far outstrips supply, so I can afford to be 'picky'.


[Edited at 2009-01-06 18:15 GMT]


 

Cristina Heraud-van Tol  Identity Verified
Peru
Local time: 08:18
Member (2005)
English to Spanish
+ ...
Not at all Jan 6, 2009

I work with US dollars and Peruvian soles, so I am not being affected by this.

 

Jenni Jelse  Identity Verified
Sweden
Local time: 15:18
Member (2007)
English to Swedish
+ ...
Yes Jan 6, 2009

I have always charged my eurozone clients in euros, so I get more money from them now in pounds. I was just about to put up my rates this year, but I'm holding back until the pound is stronger again. I will certainly not lower my euro rate, as I have no idea how long the euro will be so much stronger. However if I feel I need to due to my business being affected by the current economic crisis (hasn't happened yet), I will offer to charge in pounds instead.

I do spend some of my time in the eurozone as well and it doesn't feel particulary nice to pay for anything there at the moment. So it's not all positive.

I'd rather we were all in the eurozone - UK, France, Sweden... Would be so much easier.


 

Catherine Shepherd  Identity Verified
United Kingdom
Local time: 14:18
Spanish to English
+ ...
No... Jan 6, 2009

...because I invoice in euros (as I live in Spain), but it is very handy to buy on ebay UK because the exchange rate is good the other way round!!

 

Marlene Blanshay  Identity Verified
Canada
Local time: 09:18
Member (2009)
French to English
+ ...
not really Jan 6, 2009

these days most of my clients are US or CAN. Right now US dollars are 1.20 against canadian....so i shure do love them yankee dollars!

 

Philippe Etienne  Identity Verified
Spain
Local time: 15:18
Member
English to French
I also invoice the UK in euros Jan 7, 2009

but to go a bit further, my hunch is that my UK agency customers may diversify their translation sources, precisely because I invoice in euros, and hire EN-FR competitors who bill in GBP or USD (or less EUR than me).
Or those customers have less work coming in because of the slowdown there.
Overall, the percentage of my business from the UK decreased.
Philippe


 

Tim Drayton  Identity Verified
Cyprus
Local time: 16:18
Turkish to English
+ ...
Having a great effect Jan 7, 2009

I live in the eurozone and the majority of my clients are in the UK, so it is having a great effect.

 

Nikki Graham  Identity Verified
United Kingdom
Local time: 14:18
Member (2003)
Spanish to English
Yes, and so far it's positive Jan 7, 2009

As I invoice a lot of my clients in euros, I am getting more money for my efforts, so this means I can work less and still earn a decent salary. However, I am not being offered as much work as I was this time last year, which I think is due to the economic climate. Until things pick up, I am enjoying a bit of a rest and a chance to catch up on the many other things I have been planning to do for ages (not work related).

 

Marie-Hélène Hayles  Identity Verified
Local time: 15:18
Italian to English
+ ...
Yes Jan 7, 2009

Funnily enough, I'm currently renegotiating my rate with a UK client, who balked at the increase I proposed (after over two years at the same rate) for that very reason - I'm now much less competitive than I used to be, thanks to the fall of the pound.
To get them to agree to an increase, I offered them the opportunity of paying me in sterling to my UK account - so whatever the rate does they are unaffected and I lose out only if it falls even further.

Bureaucratically, it will no doubt be a huge headache for me and I'll probably end up regretting iticon_frown.gif

[Edited at 2009-01-07 11:46 GMT]


 

Stephen Gobin
United Kingdom
Local time: 14:18
German to English
+ ...
Making hay while the sun shines Jan 7, 2009

Like Nikki, most of my clients are in the eurozone and I've always been paid in euros. Things are great at the moment, especially compared to when the exchange rate not so many months ago was around €1.40 - €1.50 for a pound. Things will certainly change again in the future as they always do, but at the moment it's nice making hay in the sun.icon_wink.gif

 

Rebecca Garber  Identity Verified
Local time: 09:18
Member (2005)
German to English
+ ...
I don't get paid in pounds Jan 8, 2009

My European clients pay in Euros or in dollars. I pay the exchange and wiring fees on the Euros (annoying, but otherwise a credit union is sooooo much better than a bank), and I win or lose with the exchange rate for those who pay in dollars. While the dollar was sinking, I was actually making the bank fees during the 30 day interval between invoice and payment.icon_smile.gif

My British client insists on paying in dollars. They use a US bank, so I get cheques in the mail. I don't know how the exchange rate is affecting them, since I don't see it.


 


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