Wage policy to claim 80,000 SME victims
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About 80,000 SMEs across the country will be shut down this year due to the minimum wage hike, according to a survey by Dhurakit Bundit University.
DPU research centre director Kiat-anan Luankaew said that in the first half of this year, about 50,000-70,000 have already closed shops.
He said that most of them are small manufacturers and operate small retail businesses that hire fewer than 50 workers. They have witnessed the 20 per cent increase in average operating cost.
The countrywide Bt300 minimum wage took effect on January 1, 2013.
An in-depth research was conducted in Phayao, Khon Kaen, Ayutthaya and Songkhla also showed that though workers' income rise as a result of the policy, the cost of living has climbed up accordingly. Food and beverage prices, rents and other service fees have moved up. The survey also indicated that the purchasing power tends to fall further in the next 18 months.
