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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.

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  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.
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