How BC’s new government will affect your small business
How BC’s New Government Will Affect your Small Business
Summer is here. You’ve bought a new glow-in-the-dark BBQ. Your fluffy dog has been shaved. And the NDP and Green party have formed a minority government.
If you are wondering how the new BC government will affect your small business, we’ve got the answers for you here….
Check out these 2017 BC Government changes that will affect your small business:
1. Minimum Wage is Gonna Change
Minimum wage is going to be hiked up to a generous $15. This affects novice workers and small business owners.
For instance, if Mr. Joe Eucalyptus produces glow-in-the-dark BBQs in Vancouver, BC, he is less likely going to hire a novice employee or even keep production of BBQs in the province or even in Canada.
Not only that, if Mr. Ashton Pinewood happily worked for Eucalyptus for $15 for two years, he may want a raise considering he is now only being paid minimum wage.
The new hike in minimum wage may therefore change where you hire, who you hire and your budget for hires.
2. More Affordable Child Care
Childcare is expensive so the NDP promised $10 a day daycare. The Greens offered free daycare. No decision has been made on this yet, however they do promise to make daycare cheaper.
The benefits of this are your workers will be less stressed about the amount of money they spend on daycare and would be able to spend more time at work.
On the downside, they may try to sneak their shaved dog into childcare as dog daycare costs a whopping $30 a day.
3. Improving Metro Vancouver transit
We’ve all known someone who has been stuck on the SkyTrain and is late for work. But we never really know why the SkyTrain breaks down so much.
Could it be the power from the SkyTrain is being leaked out to power glow-in-the-dark BBQs?
Hopefully now with the new budget going towards transportation – we will find out, transport will be improved and employees will be able to get to work on time.
4. Potential New Payroll Tax for Employers
Small business owners may pay a new payroll tax to help pay for the elimination of MSP premiums for employees.
Although this rocks for employees, this will take money out of the pockets of employees decreasing their bottom lines and increasing their frustration.
5. Restoration of Free Adult Basic Education and ESL
A new plan to implement free basic education and ESL will help immigrants gain the skills to improve their job search which will in turn help small business owners hire more immigrants.
However the new minimum wage increase could also potentially lower the chances of immigrants gaining jobs unless they can compete with local skilled workers.
Contact us today
We hope that shone some light on BC’s new minority government and its effects on small businesses in Vancouver and BC.
If you would like some help navigating the changes in your small business that will occur this year due to the government change, give us a call. We would love to help.