WATCH: Business community mixed on minimum wage changes

Some wonder what this means for small- to medium-sized businesses

The reaction from the business community is mixed when it comes to Ontario raising it's minimum wage to $11/hour.

The Canadian Federation of Independent Business (CFIB) says the increased costs may lead to layoffs. Senior Policy Analyst Nicole Troster notes it will also affect consumers. She says studies say for every 10 per cent increase in minimum wage, there's a 4 per cent increase in prices at the cash.

However, CEO of the Ontario Convenience Stores Association Dave Bryans an increase of 75 cents an hour won't mean much in the grand scheme of things for corner store owners. He says he doesn't think it will affect product prices.

Bryans says the $11/hour move is much better than the calls for $14/hour made by special interest groups earlier this month. He adds, it's always good to pay workers a fair wage.

He notes small business adjusts very quickly in these cases.

In a statement, the The Canadian Restaurant and Foodservices Association (CRFA)  says while tying minimum wage increases will help their members plan, it will mean bad news for young workers. The organization says there will likely be fewer jobs available in general, therefore fewer jobs for those looking for summer employment.

Leave a comment:

showing all comments · Subscribe to comments
  1. john posted on 01/30/2014 03:26 PM
    of course there will be layoffs companies cant run without some kind of profit . it would be pointless if thay did not .
  2. DW posted on 01/30/2014 03:39 PM
    Some marginal businesses should go out of business. CFIB represents the real nothing businesses that do nothing for the economy except selling lottery tickets and girly magazines. Close down and free up the land for modest priced housing.

    Small business operators would be well to save the money and not pay the CFIB fees.
showing all comments

Sign Up For Breaking News Alerts

Becoming a member only takes 60 seconds! Members get access to exclusive information and products that non-members do not, including concert ticket presales, trips, advance notice on upcoming entertainment events, movie screening passes, music giveaways and more!

Login with Facebook

Stay connected 24/7! Receive breaking news and programming alerts right to your inbox. CLICK HERE to sign-up.

Today's Poll

Do you think excessive force was used by TTC special constables in the videos making the rounds today?

Voting is restricted to one vote every 24 hour(s) VoteResults

Top Stories