Welcome To
Acadia Broadcasting NewsThe Latest and Greatest ContentYour Trusted Local Source


gwolters / Depositphotos.com

Increased payroll costs concerning for small business, CFIB says

By Tara Clow Apr 1, 2024 | 1:13 PM

The Canadian Federation of Independent Business is raising concerns over minimum wage hikes in Atlantic Canada.

The CFIB estimates with these increases payroll costs also went up by $54.5 million across the four provinces.

They add 58 per cent of business owners have found it difficult to absorb the cost of past increases, forcing them to put up the cost of their goods and services.

The CFIB says many small businesses in Atlantic Canada are still reporting lower sales and the April 1 minimum wage increases have added most cost pressures to the ones they are already facing.

The CFIB is urging the four provincial governments to link minimum wage increases to a set percentage of the median wage in their respective provinces.

“Over the last few years, small businesses have seen all four governments deviate from the once-a-year schedule while applying various subjective criteria,” adds Louis-Philippe Gauthier, Atlantic Vice President.

“Provinces in Atlantic Canada need to get back to a once-a-year frequency and tie minimum wage increases to something that’s real. Connect minimum wage increases to the actual increases in the median wage in the province. As wages increase, then the minimum wage can increase by the same amount.”