As minimum wages rise and big businesses offer employees more money, how can small businesses compete?
- Twenty-nine states plus Washington, D.C., have a higher minimum wage than the federal minimum.
- Forty-six cities and counties have minimum wage rates that exceed their states’ minimums.
- Researchers say raising the minimum wage doesn’t kill small businesses or reduce job opportunities.
- This article is for small business owners who want to understand how minimum wage increases may impact their business, and how to absorb the associated costs.
How might rising wages impact small businesses, and what can they do to ensure they remain compliant with the law and competitive with larger companies?
