Half of SMEs plan to increase wages for staff, says FSB report

Around half (49%) of small businesses with employees on the National Minimum Wage have either increased their employees' wages over the past 12 months or plan to do so as soon as possible, a report by the Federation of Small Businesses (FSB) has revealed.

According to a news report, the study also revealed that most small business owners will look to increase wages where they can afford to do so, and share the benefits of growth where possible.

And it seems that most of them are quite successful in their endeavours, given the fact that less than a quarter (23%) of small firms have any staff on minimum wage, down from 27 per cent in 2012.

John Allan, National Chairman, Federation of Small Businesses, said:

"With confidence returning to small businesses after a period of wage restraint, our research shows our members are looking to pass on any extra profits to their staff, including those on low pay.

"Our findings also show that small businesses are already playing their part in the economic recovery by employing more staff and paying them more where possible. Small businesses are competing for good quality staff in the labour market and pay and benefits are a big part of this."

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