Louis-Philippe Gauthier is the senior director of legislative affairs for the Canadian Federation of Independent Business in Atlantic Canada. (Image: CFIB)
A $2 increase to the provincial minimum wage is not good news, according to the Atlantic chapter of the Canadian Federation of Independent Business.
It says the unexpected decision without consultation comes at “the worst possible time for small businesses” with only 39 per cent of provincial small businesses at normal revenues.
Louis-Phillipe Gauthier said more than 60 per cent have not recovered and 50 per cent of their members are not at normal staffing levels.
“Huge pressures on their ability to find labour that’s already raising wages quite a bit. The concern is [about the] impact on these businesses and how they will be able to adapt.” Gauthier said.
He said there is concern about the size and speed of the increase that will not only affect the 15,000 workers making minimum wage but another 30,000 based on government estimates.
“So it will add additional cost pressures onto the wage bill of employers across the province at a time where literally seeing cost pressures in their supply chain. It was the number one concern going into the season,” Gauthier said.
A recent CFIB survey found the increasing cost of doing business, supply chain challenges and rising commercial insurance rates are the top concerns for small business owners.
Gauthier said this won’t make it easy for businesses trying to survive and get out from under the massive amounts of debt that have accumulated during the pandemic.
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