THE leading local business organisation is firmly in favour of the euro. Bolton and Bury Chamber believes that the long-term economic interests of local businesses will be best-served through membership of the EMU. Prime Minister Tony Blair has stressed the government's commitment to joining the Euro "in principle" and has called for a debate on UK membership.

The first official day of trading in the new single currency - embraced by 11 European countries - produced a surge in prices described as "euro-phoria" in some circles.

The Chief Executive of Bolton and Bury Chamber, Mr Richard Bindless, today added his voice to the debate.

He said: "The UK government should commit itself to joining a well-structured union and use the interim period as a dress rehearsal for action.

"By showing this commitment to join, the government will send out positive signals to UK businesses to plan for entry."

Meanwhile, the North West Society of Chartered Accountants is alarmed by survey results which show that more than threequarters of small and medium-sized firms in the region are failing to make sensible arrangements.

The President, Mr Norman Bolton, said: "Trading in the Euro has started and while some firms may feel unaffected, it is regrettable that so many with links to the Euro zone seem to be dragging their feet."

He added: "Even firms who believe they won't be affected should take basic precautions.

"The full extent of the commercial repercussions will gradually emerge over the coming months and you can be sure the number of businesses affected will increase dramatically."

The North West Euro Forum has warned that small and medium-sized businesses may well be at risk if they fail to make thorough preparations for the Euro.

The regional helpdesk number is 0151-298-1928.

THE Association of Chartered Certified Accountants is warning small businesses to beware of fraudsters posing as consultants offering advice on the Euro and remodelling financial systems with access to new bank accounts and payment systems.

"Without proper safeguards, a criminal could easily establish systems to syphon off cash," said David Harvey, Secretary to ACCA's Small Business Committee.

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