Ian Guider: Despite the pain, hiking the minimum wage is a small price to pay to do the right thing

A hike of 12 per cent is unlikely to affect the multinationals, but it could cause problems for thousands of small firms that employ the majority of people on lower salaries

There are two types of employees – those in the very well-paid secure jobs and those who typically works for an SME or in the retail or hospitality sectors

There are two types of businesses in this country. There are the flashy multinationals and start-ups that grab state funding and plenty of media attention. Then there are the less showy, indigenous companies we see every day up and down the country. They are retail stores, hospitality outlets and the small family-owned firms that employ a few dozen people. These companies are far more important than they get credit for. They provide far more jobs ...