bizunplugged
Exchange Rates: Beware of Assumptions
Filed in archive Doing Business In USA by Greg Balanko-Dickson on June 14, 2007
Exchange Rates: Beware of Assumptions
If you do a lot of business with customers in the U.S. you might be feeling the pinch due to the Canadian dollars rise against the U.S. dollar.

I do a lot of business with clients in the U.S. and back in 2000 I remember getting 1.57 CDN for each U.S, dollar. Today it is just $1.04 or $1.05.

Big difference. Failing to re-examine changes in the assumptions behind your business can result in bankruptcy:
A high Canadian dollar and new passport rules are driving away American clients, says the owner of an eastern Ontario woodworking school that recently went bankrupt.

Since January, new rules have required U.S. citizens to carry passports when they fly to and from Canada. Those rules have been lifted for the summer while the U.S. tries to catch up on a backlog of Passport Applications.

"On any given week, you'd have basically three full-time employees, a couple of the guest teachers, and then up to 14 students," he said. "Even though Rosewood was only here for a short period of time, it's done a lot for the town." Via CBC



Permalink: Exchange Rates: Beware of Assumptions
Tags: Exchange  Rates  Beware  of  Assumptions  business  small+business  beware+assumptions 
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/75556
img Addthis img Ask img Blinklist img del.icio.us img Digg img Fark img Facebook img Google img Lycos img Ma.gnolia Add this page to Mister Wong Mr Wong img Netscape img Netvousz img Newsvine img Reddit img StumbleUpon img Slashdot img Tailrank img Technorati img Wink img Yahoo

Vote for Exchange Rates: Beware of Assumptions:

  • Currently 9.00/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 9.00 out of 2 vote(s) cast.
Subscribe
Share It
Popular posts from our other blogs:
RSSrss
See all blog subscribe options
Google google
What is RSS?
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
Newsletter

TwitterFollow us on Twitter!