<!–enpproperty 2012-08-11 06:47:27.0Ming YeungMinimum wage effect minimal on SMEs: SurveyMinimum wage effect minimal on SMEs: Survey1159929Top News2@hk/enpproperty–>
Small and medium enterprises (SMEs) say they are unharmed by the mandatory minimum wage which came into effect last year, and have suffered no detrimental effects, according to a survey conducted by the People’s Alliance for Minimum Wage.
The alliance surveyed 194 retailers over a two month span. Half of the retailers belong to The Link, which oversees the city’s major shopping malls under the Housing Authority. About 40 percent of the retailers who took part in the survey had one to three employees. Half were one-man shops.
Over 80 percent noted that the wage increase was contained at under 10 percent after the Minimum Wage Ordinance took effect in May, 2011.
The unemployment rate, remained stable in seeming defiance of expectations of many. Ninety percent of employers said they made no staff reductions as a result of the new ordinance.
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