German businesses lag behind their European counterparts in preparing for the changeover to the euro, according to a study by IBM Germany. The report came ahead of the European Central Bank’s press conference which will unveil the publicity campaign for the changeover.

The findings prompted the German association of small and medium-sized companies (BVMW) to call on companies in the eurozone’s largest economy to step up their preparations.

A study by IBM showed that around 30 per cent of the computer giant’s clients in Germany still conducted their business exclusively in Deutschmarks six months before changeover on January 1 2002. By contrast more than 90 per cent of IBM’s clients in Spain, Ireland and Portugal were conducting their affairs in euros.

IBM and the BVMW estimate that 60-70 per cent of Germany’s 3.3m SMEs are "not euro-worthy," and called for urgent action on the part of companies to adapt databanks, software programmes and business models.

The costs of the changeover can double if adjustments are left to the last minute, warned Mario Ohoven, the BVMW’s president, adding that labelling, price conversions and the adaptation of cash registers had not been adequately addressed.

Mr Ohoven also called for additional action on the part of the German government, which he said had spent only E0.07 per capita on euro information, compared to E4.80 per head spent by the Irish government.