While New York's minimum wage is on the minds of small business people, they follow the debate at the federal level is looming as well. President Obama wants a ten dollar minimum wage which would trump the state's new eight dollar wage.
The squeeze is any kind of competitive business is the buying public has no interest in higher prices even if the rationale is paying workers more in wages and benefits.
And for those employers who try to pay above minimum out of decency or whatever reason, they now feel pressure to increase.
In small business you learn quickly that either you control costs or you fail. The norms in some lives like COLA's, step increases, full medical, pensions that cost 30% or payroll, six weeks vacation, etc. just don't fit into a business model where people seek cheaper products and always want to know "what's on special ?".
Small business will adapt. There are ways to cut overhead.
Watertown Daily Times | City business owners brace for minimum wage increase
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