THE countdown to the euro has begun - and East Lancashire firms are being urged to take action.

There are just 100 days to go before countries across Europe start using the euro.

Although Britain has not signed up for the new currency many European firms will expect British suppliers and customers to start quoting and invoicing in euros.

A debate on the subject is being organised next month by the Kingfisher Partnership in Rawtenstall.

The event at the County Hotel in Blackburn will hear presentations from a Business Link adviser and banking experts on the potential impact of the euro on East Lancashire firms.

Blackburn-based Colletex, which makes specialist components for the clothing industry, recently became one of the first East Lancashire businesses to open a 'euro' account through Barclays.

"We do a great deal of buying and selling in Europe and many of our customers and suppliers will expect payment in euros," said Jeff Scott, managing director of Colletex which employs 15 people at its Whitebirk Road base.

Many other East Lancashire firms are expected to open euro accounts before the new currency starts on January 1, 1999.

"Early preparation for the euro will bring a competitive advantage to East Lancashire which will clearly have a knock on effect on jobs and business success," said Graham Dixon, head of corporate business for Barclays in East Lancashire.

Anyone interested in attending the debate on October 5 should contact Jayne Boyd on 01706 606000.

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