Editorial

Citation

Marlow, S. (1999), "Editorial", International Journal of Entrepreneurial Behavior & Research, Vol. 5 No. 1. https://doi.org/10.1108/ijebr.1999.16005aaa.001

Editorial

I would like to begin by thanking the organisers of our second conference on enterprise and learning, which was held in Aberdeen in September. It was very gratifying to note the wide selection of papers and issues which were raised although, this does present us with the difficult task of narrowing down the papers to those which will be published in a special issue of the journal in summer. Please note that the next conference will be held in Plymouth on 2 and 3 September, and when we have further details we will issue a general call for papers ­ please note the date in your diary and make any interested colleagues aware.

There will be a change to the journal format in 1999. Beginning with this issue, there will be two papers, followed by an update of a further two papers in the following month. By adopting this format, we intend to offer a more frequent opportunity for subscribers to keep up-to-date with the latest developments and research, but it will also give the editorial team a little more flexibility should we wish to expand an issue or update. Given the pressure on journals at the moment, with increasing lead times, our electronic format with this flexible option of updates will enable us to offer a more efficient service to subscribers and contributors.

Now that most of Europe has embraced the single currency, it is important to consider the implications of dealing with European customers for British SMEs. Recent surveys by both MORI and the media indicate considerable ignorance regarding the form and value of the euro among the population at large, and this has obvious implications for those already trading in Europe, and particularly for firms attempting to access European markets. Given that the 11 nations will produce approximately 19 per cent of world trade, it is imperative that all firms are fluent with the new currency and confident in their ability to manage it.

Although the UK has not yet joined the monetary union, with London as a critical finance centre and firms able to transact business in euros, it is clear that to take advantage of market opportunities, UK enterprises must be fully conversant with the currency. Thus, firms which do business in participating states must be able to deal in euros to save transaction costs, and those which trade with the 11 nations must be able to tender in euros to maintain a competitive stance. However, as stated, the evidence indicates that the business community is poorly equipped to undertake this task.

Overall, there has been only limited guidance from the government whose decision to stand outside monetary union seems to have been taken as an indication that the nation will be relatively unaffected by the changes in Europe; this is a short-sighted view which could well spell disaster for those firms which remain in ignorance. It is imperative that policy-makers, small business support institutions and government agencies must invest more resources in ensuring that adequate information is clearly available ­ dedicated advice channels are essential if the durability of UK SMEs is to be ensured. Action should have been taken over the last few years to prepare all business for change; let us hope it has not been left too late for firms to take advantage of the opportunity the euro presents. With these themes in mind, we would be very interested to receive papers based on contemporary research or considering the issues raised in more depth to further investigate the consequences of the currency change and the implications of UK exclusion.

Sue Marlow