Living Wage will hinder hiring say SMEs

The forthcoming introduction of the National Living Wage will have a negative effect on SMEs hiring, according to new research.

The National Living Wage will be introduced in April 2016 at £7.20 an hour. It is set to rise to £9 an hour by 2020.

Job site Indeed report that more than two-thirds (77%) of small UK businesses worry that the introduction of the living wage will make it harder to hire in what is already a difficult climate.

London-based SMEs are the most confident and 20% say they expect to hire at least five new employees within the next three months. That’s compared to the national average of 14%.