The Democrats have stated that one of their priorities is raising the minimum wage. President Bush has tentatively agreed to this with the caveat that it should come with some tax breaks for the small business owners. How will an increase of $2 for the minimum wage impact your business as a small business owner?
Re: Increase in the minimum wage
For us it will not change at all because we pay all of our people a salary and are in the professional service industry.
Re: Increase in the minimum wage
We are a small consulting shop so it will not hurt us at all.
Re: Increase in the minimum wage
Most of our clients are manufacturing plants and it is going to have a significant affect on them - I think the net result will be less employees
Re: Increase in the minimum wage
I personally don't think that a raise in the minimum wage should have any bearing at all.
If you have a sound business product and people then there shouldn't be an effect at all
except continued growth.
Too many times businesses only look at it from the stand point that now they will have to
pay more payroll taxes which means less net profit - while this statment is True - why are
business owners against paying their people more so that their employees can have a living wage??? Is it because these businesses don't hire the best or is it because the best want to be paid more???
I keep remembering bout 9 months ago on the nitely news that they focused on 'Google'
and 'Is this any way to treat an employee' - they treat them like Kings and Queens, no
dress code, it's own health care facility with on staff MD's, with meals and the like - it's
stock price is (at the time 550 a share with the company worth billions) - maybe some
companies should take a cue from this.