The Island's Chamber of Commerce is calling the 9.9 percent minimum wage rise planned for next April a national crisis.
In an open letter to government, the chamber warns the increase could trigger widespread job losses and business closures - especially in hospitality, retail, care and manufacturing.
It argues the rise is higher than the UK's 4.1 percent increase and would leave Manx employers paying around a quarter more for 18-20-year-olds than UK counterparts.
Instead, the organisation says a rise in line with inflation would be more sustainable.
Party promises to legalise cannabis in political advent calendar
Charity announces Xmas tree recycling scheme
Storm force wind warning in place until 6pm
Fewer than 1 in 6 people of solely Manx descent
Trees downed by storm, say police
7,000 plastic bottles of water sold in high schools each week
Celtic League: minimum wage objections 'greed over need'
Minister hits out at meeting's 'rude and disrespectful' 20mph comments
