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By Tony Hallett, 11 January 1999 14:26

NEWS A week after the launch of the euro, it seems small businesses in the UK are woefully unprepared to deal with continental partners using the new currency. According to a survey conducted by Dun & Bradstreet, only 6 per cent of small firms have converted their accounting systems. The information provider surveyed 500 companies, which on average gather 20 per cent of their revenue from continental sales. Philip Mellor, senior analyst at Dun & Bradstreet, said: "Whereas 75 per cent of large companies we spoke to last year were what we called 'keen' and 'prepared', the response from small businesses has been far less positive. The phrases we use to characterise them are 'anti' and 'not until they're forced to'." Mellor said small businesses often only plan about three months ahead, so there is room for a quick change around. "They'll find themselves in situations where they have to change whether they like it or not, as change is forced on them, particularly by trading partners," he added. In contrast, City concerns about job losses and the largely successful launch of the euro are convincing growing numbers of financial institutions that the UK must enter the single currency. The latest report from KPMG found the proportion of respondents wanting the UK to sign up fully to the new currency has grown. The giant consulting and accounting firm said 51 per cent of the companies polled are now more in favour than they were six months ago. The most common responses to the question 'Why the change of attitude?' were: 'it is inevitable', 'we are now better informed', and 'the advantages are now more apparent'.