Local business owners and managers will be welcoming the Government’s new starting-out wage when it comes into force on 1 May, according to the latest research from MYOB.
The March 2013 MYOB Business Monitor, a national survey of 1000+ SMEs run by Colmar Brunton, found 50% of SMEs were in support of the re-introduction of the youth wage rates. Only 14% were opposed.
Strongest support for the new Minimum Wage (Starting-out Wage) Amendment Bill, which passed its final reading in Parliament last night, comes from the finance and insurance sector. There, 65% were in support and 16% opposed. The retail and hospitality sector followed (62% support/12% opposed) then manufacturing and wholesale (58% support/6% opposed).
MYOB New Zealand executive director Scott Gardiner says the SME community is focused on ways to make it easier to employ young New Zealanders.
“Small and medium businesses provide almost one third of all jobs in New Zealand, and many young people get their start working with smaller local businesses,” says Mr Gardiner.
“These business operators see the reintroduction of a starting-out wage as a way to make it possible to give younger people a chance to gain some valuable working experience. They also see it as another way to give back to the community that supports them.
“It's a big commitment for a smaller business to take on an employee. Every single employee represents a key part of the business and a significant cost for an employer to shoulder. Any help the Government provides to make it easier for local businesses to hire local youth is important.”
The survey was not all good news for the Government however, with a majority still opposed to the major policy of National’s second term: the sale of state assets. 43% opposed it while 27% were in support.
“Opposition to state asset sales from small and medium business operators has remained steady since the policy was introduced,” says Mr Gardiner.
“Ultimately, the policies that really appeal to local SMEs are those that make it easier and more efficient to run a successful business in New Zealand.”
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About MYOB New Zealand
Established in 1991, MYOB is New Zealand's largest business management solutions provider. It makes life easier for approx. 1.2 million businesses across New Zealand and Australia, by simplifying accounting, payroll, tax, practice management, CRM, websites, job costing, inventory and more. MYOB provides ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly in cloud computing solutions, and now spends more than NZ$35 million annually on research and development. In 2013, MYOB expanded its offerings with the acquisition of accounting solutions provider BankLink. For more information, visit myob.co.nz.