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WATCH: Business community mixed on minimum wage changes
Some wonder what this means for small- to medium-sized businesses
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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.

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2 0

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.

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