SMEs take profit hit to pay living wage
Nearly two-thirds (64%) of small firms impacted by the National Living Wage have met the latest rise to £7.50 per hour by taking lower profits, according to the FSB. Some 39% have put up prices, while 24% have cancelled or scaled down investment plans. A fifth have reduced staff hours (22%) or hired fewer workers (19%).
Source: Yorkshire Post (04/08/2017)