Survey Finds Half of Businesses Expect to Make Cutbacks or Redundancies in 2026

Survey finds half of businesses expect to make cutbacks or redundancies in 2026

Figures compiled following recent minimum wage meeting

Survey Findings: Forum Warns Wage Hike Could ‘Crush’ Businesses

A new survey has warned of a dramatic escalation in financial distress among Isle of Man businesses ahead of the planned minimum wage rise to £13.46 next April, with the proportion of firms at high risk of closure increasing more than fourteen-fold. The Local Economy Forum surveyed more than 90 businesses, employing a combined 3,800 people, during a meeting at the Palace Hotel last week. Participants were asked to assess how both the current min…

Rise in business failure risk as survey warns of ‘crushing’ impact of minimum wage

‘This has gone on long enough and has to change quickly if needless business failures and job losses are to be avoided’