SMEs Face Closure and Downsizing as Pay Rise Looms in 2024

Small and medium-sized enterprises (SMEs) in Mauritius are worried about the increase in the minimum wage and salary compensation in 2024.

Some businesses have said they are unsure how to find the additional resources to pay their employees, with several reportedly considering closure or downsizing ahead of the changes.

Jocelyn Mounien, Managing Director of Joe & Sons Cleaning, warned other SMEs could disappear in January and February, and he appealed for subsidies so businesses could make up the shortfall.

The government has promised to assist struggling businesses, but there is still a lack of clarity around how this assistance will be provided.

Source: Defi Media