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.
Prison drone info could compromise security, says department
UK debate hears worries over health staff and IOM assisted dying laws
Police need Japanese-speaking help
All Tuesday sailings called off, says Steam Packet
Access to cash to be considered by Tynwald
More than £60k raised by Santa's on a Bike
Which schools have free period products?
Roadworks damaging tyres, claims woman