Currency exchange for the Alcohol industry
With the UK alcohol industry now valued at £16bn, knowing and managing your foreign exchange exposure can make a huge difference to profits.
2 minute readSuccess within the alcohol industry has been driven by recent trends and an unrelenting surge of innovation, particularly from beer and spirit brands. The rise of craft beer in recent years, alongside the boom of small batch gin distillers has attracted more investment in alcohol from consumers.
On top of this, these trends have simply grown in the shadow of the world’s huge demand for whiskey, with the hard stuff remaining the UK’s most valuable export within the food and drink industry as of 2018.
How foreign exchange can affect the alcohol industry
As part of a globalised industry, brewers, distillers, winemakers and alcohol suppliers rely on the international supply chain and on import/export, while the boom also brings an even larger international market to branch out into.
Making international payments on a mass scale can naturally incur significant costs, depending on the FX provider you utilise, while fluctuating exchange rates can play their part affecting the value in trade throughout the year.
Knowing how to navigate the foreign exchange market and the risks and exposure that your company faces can have a significant effect on your profit margin.
Currency exchange solutions for companies within the alcohol industry
As soon as you open a business account with Moneycorp, we will assign you a dedicated account manager who will be able to cater for your foreign exchange requirements. With knowledge of your sector, this account manager will discuss your currency exposure, as well as the various currency exchange solutions we are able to offer you and your business.
Once we hear from you regarding the demands of your business and the challenges you face, we are able to offer a tailored solution to ensure your money goes as far as it can for your payments.
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