Small firms will suffer

 FSB warns small firms will suffer

SMEs will be hit by increases to the minimum wage, entrepreneurs and business leaders have warned say Harris & Co chartered accountants Northampton. The new living wage of £7.20 for people aged 25 and over is to be introduced in April 2016, rising to £9 by 2020. The FSB, which represents around 200,000 firms across the UK, said the changes would pose “significant challenges” for small firms, particularly in the hospitality, retail and social care sectors.