Western Union's FX Barometer

Western Union has recently undertaken an extensive global research project, engaging over 4,212 companies across 7 countries to gather insights on how different companies and industries are positioned in respect to financial opportunities and risks associated with international trade.

One section of the report that jumped out at me is a quote from Simon Bishop (Director of Hedging, APAC), stating that “Risk management is rarely an SME’s priority, with resources more focused on sales and marketing as opposed to systematically protecting profits.” Some of the reasons are SMEs feel they do not have the expertise or resources to manage currency risk.

The AUD is historically more volatile than many other currencies, coupled with an uncertain economic environment that we are currently experiencing. It may be worthwhile considering changing how you manage risk in your business. As a business owner with foreign exchange exposure, have you sat down and had the conversation around how currency movements will impact your bottom line, and ultimately, the growth of your business?

At Western Union, our customer-centric approach is built around getting to know your business to determine the strategy that best suits your business’ needs. Once we have a clear idea of your situation, we will partner with you so that you are able to enjoy the benefits of our expertise, helping you understand the best way to manage your business’ foreign currency risk. Partnering with Western Union, you won’t need to worry about a lack of time to effectively manage your payments process and foreign currency exposure. We get to know your business, enabling us to manage these risks for you. This will free up your time so that you can concentrate on the things that really matter, like effectively running and growing your business.

Please do not hesitate to reach out to me via email for any further questions about how Western Union could potentially help you: [email protected]