The massive influx of visitors attending the Edinburgh Festival has
brought the issue of whether to modify IT systems to accept the
euro to the fore again.
Some companies in the area have been reaping the benefits of
preparing for the euro early, while others are refusing to accept
the single currency on principle - a policy that has been
criticised by local business leaders.
A recent survey from the Edinburgh and Lothians Tourist Board
indicated that 57% of respondents - including retailers, visitor
attractions and hotels - were able to accept the euro to help to
cater for an influx of millions of tourists during Europe's largest
theatre festival.
Retailers preparing IT systems for the euro could now provide
valuable experience, should the UK eventually adopt the currency. A
referendum on the subject is expected within two years.
Although some Edinburgh companies have been put off by the
financial costs of updating IT systems for the euro, a number of
smaller businesses have found ways around the problem, a tourist
board spokeswoman said.
"We do appreciate that there are some financial costs involved in
transacting in euros - replacing tills or reprinting price lists
for instance - but every business is different and these costs can
be avoided, particularly in smaller businesses," she said.
"Rosslyn Chapel, which accepts euros and makes each calculation on
a manual basis, is a great example of how a flexible working
approach can be achieved," the tourist board spokeswoman added.
A spokesman for Black Hart Storytellers, which conducts ghost tours
around Edinburgh, said his company was quite willing to accept
payment in euros but that no tourists had tried to pay with the
currency so far.
Other Edinburgh businesses, such as Jenners department store, said
they have no plans to change their IT systems to accept the euro.
"We have not noticed a significant demand from tourists wishing to
spend euros in our store and we have no plans to upgrade our
computer systems," Debbie West, marketing co-ordinator at Jenners,
said.
Geoffrey Tailor's Kiltmakers and Weavers, which is based on the
Royal Mile, said although the company has served a lot of tourists
during the festival, the question of accepting euros "has not been
much of an issue".
"We have been offered euros a few times but we did not accept them.
We simply advised the customers on alternative forms of payments,
such as credit cards," Caroline Hutchison, manager of the company
said.
The kiltmaker has not lost any sales through its policy of not
accepting the currency, she insisted.
Some national companies with outlets in Edinburgh, such as pub
chain JD Wetherspoon, also have a policy of not accepting the euro.
"We are quite anti-euro as a company," said a JD Wetherspoon's
spokesman. "We may lose a bit of money by refusing to accept the
euro but we do not mind that as it is a matter of principle."
The Edinburgh Chamber of Commerce criticised companies that were
not accepting the euro, calling them "short-sighted".
Its chief executive, Bill Furness, said, "Both we and the local
authority [City of Edinburgh Council] have been encouraging as many
outlets as possible to accept euros, partly out of friendliness and
partly because it's good business."
However, he admitted that the response so far has not been good and
most of the official outlets for the festival were not accepting
euro currency.
Ironically, Furness noted that when it came to accepting the new
currency it was the smaller, go-ahead retailers such as local
delicatessen Valvona & Crolla that were leading the way.