Thursday, April 18, 2024

Cuts or price hikes ‘likely’

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More Barbadians could wind up on the breadline as the full impact of the National Social Responsibility Levy (NSRL) hits home for many businesses whose operating costs have gone up.

The Small Business Association (SBA) is reporting that some members are facing the reality that they may have to send home some staff to keep afloat, or hike the price of goods and services.

The bleak picture was painted by president Dean Straker, who said the secretariat had been receiving numerous calls to this effect.

A clearly unhappy Straker said the NSRL and the two per cent tax on foreign exchange transactions were “destabilising” small and medium sized firms. (WILLCOMM)

Please read the full story in today’s Daily Nation, or in the eNATION edition.

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