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Thursday, July 27, 2006

Wage rate system "unfair"

The Fiji Chamber of Commerce believes it is not fair to place wage rate systems on informal and small micro-business enterprises. The Chamber said that while huge corporates could bear such costs easily, it was not fair to place minimum wage rates on small family-run businesses.

The Chamber said "when you institutionalise minimum wage, it will stifle and impede the growth of small, micro enterprise and the informal sector. This will not encourage growth. It will affect the development of the informal sector."

The Chamber added that it was not right for informal business that had just started to pay tax and provident fund contributions.

The Fiji Employers Federation said that "the difficulty is that (highly paid) jobs are not available for everyone, hence the competitive role played by all. The growth of higher paid responsible employment opportunities is heavily dependent on the success and profitability of existing businesses, and forcibly sharing of the wealth created by business by paying exhorbitant wages and salaries defeats that objective".

It will be interesting to see how these arguments pan out.

Note from GV : Small and medium business owners can use our company, Gilbert & Samuels Company Limited, to prepare business plans and to facilitate business loans for them. We can also facilitate all necessary licences, permits and approvals required for setting up. Our principal is also an Investment Adviser licensed by the Capital Markets Development Authority (of Fiji) and can provide investment advice to individuals or groups. Our contacts are : telephone +679 3396427 or e-mail gilbert@connect.com.fj.

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