Minimum wage hurts small businesses

Posted on 14 Apr 2017
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 Minimum wage rises could hurt SME jobs

David Norgrove, the head of the Low Pay Commission, has warned that the planned increases to the minimum wage could cost more than the 60,000 jobs predicted by the OBR. Mr Norgrove said he was particularly concerned that SMEs would be hit hard by the changes, which could see the rate rise to £9 per hour by 2020, as by then roughly 3.8m people will receive it and they will largely be employed in small firms in the retail and hospitality sectors. Meanwhile, a Federation of Small Businesses survey of 1,261 members found 38% expected the new national living wage to hurt their business when it comes into force in April 2016. Elsewhere, the BCC attacked the Chancellor over plans to extend shared parental leave to grandparents. "Another change to parental leave policy is the last thing businesses need after a decade of upheaval.” report Harris & Co chartered accountants Northampton, the specialist small business accountants 

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