"Pension auto-enrolment and increased minimum wage will add to financial burden of rising food and energy prices, says One Society owner William Monaghan"
"The owner of two Dublin cafes has said that the introduction of an increased minimum wage as well as the pension auto-enrolment scheme could cost his business up to €40,000 next year."
"William Monaghan, who is the ­owner of One Society on Gardiner Street and Hidden by One Society located in Smithfield, said that right now, "you're fire-fighting constantly, waiting for that silver lining"."
William Monaghan owns two Dublin cafés, One Society on Gardiner Street and Hidden by One Society in Smithfield. The introduction of an increased minimum wage and the pension auto-enrolment scheme could cost the business up to €40,000 next year. Rising food and energy prices are increasing operating costs and squeezing margins. Current operations involve constant problem-solving and short-term responses, with staff and management focused on immediate challenges. Monaghan describes the present situation as 'you're fire-fighting constantly, waiting for that silver lining'. The combined impact of wage, pension and input-cost increases threatens profitability and cash flow.
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