The hourly rate will rise from £12.25 to £13.46 from April next year
The treasury minister is urging any business that may face difficulty due to the rise in minimum wage to contact the enterprise department.
This week, Tynwald approved the increase, which will see the hourly rate rise from £12.25 to £13.46 from April next year.
Speaking on Manx Radio, Alex Allinson acknowledged that businesses on the Island are facing stress due to increasing costs, but says the increase gives them enough time to plan ahead.
He has this message for small businesses:
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