Rising national living wage hits SME profits
The NLW increased from £7.20 to £7.50 per hour on 1 April 2017. Out of 835 businesses surveyed by the Federation of Small Business (FSB), 39% have put up prices to cope with the NLW increase. Almost one in four (24%) firms either cancelled or downscaled investments, while 22% reduced working hours and 19% hired[…]