In a year defined by geopolitical uncertainty, shifting trade policy and sustained market volatility, finance leaders are being forced to revisit assumptions that, only months ago, appeared relatively stable. 

From rising borrowing costs and supply chain disruption to foreign exchange volatility and tightening working capital pressures, internationally trading businesses are operating in an environment where financial agility matters more than ever. 

Against this backdrop, EFM has partnered with international payments and FX specialist Moneycorp to strengthen the practical support available to advisors and clients operating across global markets. 

The partnership brings together EFM’s strategic finance expertise with Moneycorp’s international payments and treasury capabilities, helping finance leaders better understand and manage the commercial impact of currency volatility, overseas trading exposure and global market uncertainty. 

As part of the launch, EFM Associate FDs recently joined a market insight session led by Edward Ward, Senior Partnerships Manager at Moneycorp, alongside Neil Parker, Head of Economics and Market Strategy, exploring the pressures currently shaping the outlook for UK SMEs and finance teams. 

The discussion focused not only on market conditions, but on how sophisticated businesses are adapting their approach to treasury management, forecasting and margin protection in response. 

Volatility Is No Longer a Background Issue 

One of the strongest themes emerging from the session was that foreign exchange exposure is still underestimated by many SMEs, despite having a direct impact on profitability, pricing and competitiveness. 

Parker noted that many businesses continue to build financial plans around optimistic assumptions about where currency markets may move, rather than embedding sufficient resilience into their forecasts and treasury strategy. 

“Businesses often end up talking their own book,” he explained. “If currency has moved in their favour, they expect it to remain that way. The challenge is that volatility doesn’t work to anyone’s plan.” 

The issue is becoming increasingly significant for businesses importing goods, managing overseas suppliers or operating on tighter margins. Even relatively small currency movements can materially affect pricing structures, purchasing costs and customer profitability over time. 

For finance leaders, the impact frequently appears long before it reaches the balance sheet. 

According to Parker, unmanaged FX exposure often first shows up through reduced competitiveness and margin pressure - particularly where competitors have implemented stronger hedging or treasury programmes. 

“In many cases, the first issue isn’t P&L,” he said. “It’s losing future business because your pricing becomes less competitive.” 

The conversation also highlighted how wider geopolitical pressures, including conflict in the Middle East, ongoing tariff uncertainty and disruption to global trade routes, are creating additional complexity for businesses attempting to forecast effectively into 2027. 

Why Treasury Discipline Matters More in 2026 

The session reinforced that more sophisticated businesses are no longer taking a passive approach to foreign exchange management. 

Rather than relying on a “fire and forget” model, firms with stronger treasury disciplines are increasingly adopting actively managed strategies, combining layered hedging, regular forecasting reviews and closer communication with suppliers and customers. 

Importantly, the discussion moved beyond simply securing favourable rates. 

Instead, the emphasis was placed on creating predictability, protecting margins and building operational resilience in uncertain trading conditions. 

Businesses are also reassessing wider working capital strategies, particularly as supply chain concerns continue to drive conversations around stockholding, payment terms and continuity of supply. 

Parker noted that many organisations are now prioritising reliability and commercial stability over securing the absolute lowest cost. 

“In this environment, many businesses are more concerned about continuity of supply than achieving the keenest possible price,” he said. 

The result is that treasury and FX strategy are increasingly becoming part of broader commercial and operational decision-making, rather than sitting separately within finance functions. 

Strengthening the EFM Advisory Network 

The partnership reflects EFM’s broader focus on building a high-calibre specialist network capable of supporting clients through increasingly complex commercial challenges. 

Alongside strategic finance and fractional leadership support, access to specialist expertise in areas such as treasury, international payments and FX risk management is becoming increasingly valuable for growing businesses operating internationally. 

“Our role has always been about helping businesses make better strategic decisions. Strengthening our network with specialist partners like Moneycorp gives clients access to expertise that can have a very real impact on resilience, planning and profitability.” – Jonathan Wheeler, Managing Director, EFM 

Moneycorp currently supports over 32,000 clients globally and processed more than £79 billion in trading volume last year, providing international payment and FX solutions across more than 190 countries. 

As part of the partnership, EFM Associates and clients will have access to specialist guidance, market insight updates and practical treasury support designed to help businesses navigate uncertain market conditions with greater confidence. 

The session also reinforced the value of practical, commercially grounded conversations between advisors and clients - particularly as finance leaders continue balancing growth ambitions against a more volatile global environment. 

“The session reflected exactly the type of conversation we want happening across the EFM community - commercially grounded, practical and focused on helping businesses navigate uncertainty with confidence.” – Jonathan Wheeler, Managing Director, EFM 

For businesses trading internationally, treasury strategy is no longer simply an operational consideration. Increasingly, it is becoming a strategic component of financial leadership itself. 

For more information on Moneycorp, visit their website