Today’s increase in the minimum wage is not the only
problem facing small businesses, says
Chief Executive Kirk Hope says the minimum
wage rise that takes effect today is just one of several new
obligations looming for small businesses, and they are
struggling under the load.
“Many businesses are
already finding it hard to pay staff given Covid trading
restrictions and the slowing economy.
new regulations are coming that will require additional sick
leave payments, a new public holiday, contractors facing
mandated increased wage costs, and new wage scales for pay
equity and fair pay negotiations. All these will add to the
cost burden on small businesses.
support the recommendation by National Economic Development
spokesman Todd McClay of a two-year moratorium on these
changes. Given the current environment, delaying these
expensive regulations would be a huge relief for small
Mr Hope said the coming regulations had
been estimated to cost businesses more than $2 billion, a
sum that was not able to be supported in the Covid