Not surprisingly the folks at the Canadian Federation of Independent Business aren't jumping for joy over the Province hiking the minimum wage.
Come October the Provincial minimum will rise from $10.20/hour to $11.20/hour with an eye on being $15/hour by 2018.
CFIB Senior Policy Analyst Amber Ruddy says small business owners they've polled say the impact will be felt across the board.
"Half of them said they think prices will go up, but 43% also said that wages throughout their business would increase. Not just those at the minimum wage level, people in positions across the board would also expect a raise at this time."
The rest of the CFIB poll numbers rolled out like this:
· A third (33 per cent) would be forced to put future hiring plans on hold
· Thirty per cent would cut back on employee perks (i.e. free lunches, parking etc.)
· Twenty-nine per cent would cut back on the current number of employees
· Twenty-seven per cent will postpone investments in the business (i.e. employee training, new equipment etc.)
· A quarter (25 per cent) would reduce hours for current employees
· Sixteen per cent will consider purchasing more technology to replace workers
However the same report shows 32% of small and medium business owners say a hike in the minimum wage to $15/hour would have no impact on their business.
4% of those polled say the hike would have a positive effect of increasing employee attraction and retention.
Ruddy says the hike could also be bad news for students looking for jobs.
She says employers won't be as likely hire people with no experience for a higher wage.
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