Poll: Is the recent fall of the British Pound against the EU Euro affecting your business? Thread poster: ProZ.com Staff
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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 i... See more 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 ▲ Collapse
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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 20... See more 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] ▲ Collapse
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I work with US dollars and Peruvian soles, so I am not being affected by this.
| | | | Jenni Jelse 
Sweden
Local time: 00:12
English to Swedish
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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 tim... See more 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. ▲ Collapse
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...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!!
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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!
| | | | | 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
Cyprus
Local time: 01:12
Turkish to English
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| 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.
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Nikki Graham
United Kingdom
Local time: 23:12
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).
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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 wil... See more 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 it
[Edited at 2009-01-07 11:46 GMT] ▲ Collapse
| | | | Stephen Gobin
United Kingdom
Local time: 23:12
German to English
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| 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.
| | | | Rebecca Garber
Local time: 18:12
Member (2005)
German to English
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| 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.
My British client insists on paying in dollars. They u... See more 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.
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. ▲ Collapse
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