This country’s business sector is urging government to be careful about how it implements a near 30 percent increase in the minimum wage, warning it could trigger price increases, job cuts or even force some companies out of business if it’s a blanket increase across the board.
President of the Barbados Chamber of Commerce and Industry, Tricia Tannis, says she understands the need to ensure people have decent pay but notes that many businesses are already under severe pressure.
Mrs. Tannis says the implications could be very significant, especially for some businesses.
Meantime, President of the Barbados Private Sector Association, Ed Clarke, notes that discussions had already been taking place about a minimum wage and therefore the development doesn’t come as a surprise.
But he also sees implications for businesses, especially, if there’s no accompanying increase in productivity.