Do you think a high minimum wage would help your small business?

Egii Nna

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Quote from: Cryptomultiplier on October 28, 2024, 03:22:58 AM

It's a simple question I want to get clarification in.
*Do you think that the minimum wage currently implemented by the government would help your small business in any way?

One thing that I like about my Nigerian civil servant is that they are not saving any money in their salary; they mostly focus on doing the necessary things that they will need, and the money is not always enough for them. So definitely this increase in the minimum wage will go a long way to torch everyone, no matter how small your business is. Know well that circulation of money mostly depends on business people and civil servants, but that will depend on the part that you are in Nigeria, because in this same Nigeria there are some places where business is never moving unless the civil servant has been paid their salary, so you see in this situation everyone will benefit from it.

Spaceman1000$

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Quote from: Cryptomultiplier on October 28, 2024, 03:22:58 AM

It's a simple question I want to get clarification in.
*Do you think that the minimum wage currently implemented by the government would help your small business in any way?

I don't understand the help your asking about, the minimum wage is not being paid to business owners, the minimum wage is paid to civil servants and public workers who earn monthly salary, this does not directly have an impact on small businesses but it will help those of them that are earning via the minimum wage to have enough purchasing power so they can buy goods and services from businesses that are selling, so yes in one way it can help businesses but not in wholesome.

Callido

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Quote from: Hewlet on October 28, 2024, 09:18:40 AM

Quote from: Cryptomultiplier on October 28, 2024, 03:22:58 AM

It's a simple question I want to get clarification in.
*Do you think that the minimum wage currently implemented by the government would help your small business in any way?

once government increases people salary, wetin you think say go be the direct implication of that development? People go basically get the ability to buying more goods and that way, e go affect sales on a positive note. The society de networked together in such a way that any negative development in a sector affects businesses directly. If your business is in an environment where the majority of people residing there are government workers, post salary week na him you go get your highest sales and if there's anything that affect workers negatively, you self go follow suffer am.

Now, the 70k minimum wage make serious impact for the livelihood of the common man? I don't think so. If like say them increase the salary of other workers to something tangeable and just give this 70k to entry level workers, then e for really show well for businesses but if na just this increment of minimum wage in an economy that's battling with inflation, nothing come out for this one for real.

Do you mean, there is no good following the increment in the minimum wage, it should be taken back to what it was then you just have to feel comfortable earning 30k that can not be able supply proper needs. If you do not want the activation, then for the sake of the coppers, i believe it will go a long way for them.

Since the minimum wage is applicable to both sectors, private and government workers, there will be enough funds in circulation which will help in personal consumption and also will help those into business due to how much people will then spend on purchasing items from them. If we can't totally fight the inflation, we can just patch our ways through it.

Hewlet

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Activity: 462

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Quote from: Cryptomultiplier on October 28, 2024, 03:22:58 AM

It's a simple question I want to get clarification in.
*Do you think that the minimum wage currently implemented by the government would help your small business in any way?

once government increases people salary, wetin you think say go be the direct implication of that development? People go basically get the ability to buying more goods and that way, e go affect sales on a positive note. The society de networked together in such a way that any negative development in a sector affects businesses directly. If your business is in an environment where the majority of people residing there are government workers, post salary week na him you go get your highest sales and if there's anything that affect workers negatively, you self go follow suffer am.

Now, the 70k minimum wage make serious impact for the livelihood of the common man? I don't think so. If like say them increase the salary of other workers to something tangeable and just give this 70k to entry level workers, then e for really show well for businesses but if na just this increment of minimum wage in an economy that's battling with inflation, nothing come out for this one for real.

Cryptomultiplier

full member

Activity: 952

Merit: 232

It's a simple question I want to get clarification in.
*Do you think that the minimum wage currently implemented by the government would help your small business in any way?

Topic: Do you think a high minimum wage would help your small business? (Read 57 times)