SMALL firms are still unprepared for the national minimum wage.
The Association of Chartered Certified Accountants warns that, unlike big companies, smaller enterprises have made few plans for the measure. Chris Christou, chairman of ACCA's small business committee, said: "I welcome the fact that larger companies have recognised the impact of the national minimum wage. But small businesses have scarcely begun to examine its implications." Arecent ACCA survey found that 95 per cent of small business clients had yet to look at the issue. Mr Christou said: "Many of them operate on fine margins; in many cases the minimum wage will force a stark choice between redundancies or the risk of business failure." He said that at this stage only a handful of small to medium sized enterprises is ready to act.
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