I own a small business. I haven’t taken a cent for the past six months to make sure my employees are paid. I don’t understand why people are so scared of increasing minimum wage. IMO it should increase about $5 per hour. Won’t hurt my bottom line even though we aren’t exactly flourishing. I pay my employees well for their time and I’d rather take the hit than for them to have a hardship. It will give people more money to utilize other small businesses and force larger businesses to play on a more equal field with smaller businesses like mine. Only downside is it might increase the cost of your BigMac.
Keep in mind increasing minimum wage is giving more money to workers. People who want to contribute to society. It’s not a government handout.
Not every small business is the same so we shouldn't treat them as the same.
Just because a business cant pay an employee $15/hr doesn't make them a crappy business. The margins just aren't there & they can be much different than yours.
A small town grocery store cant pay some high school kid $15/hr.
If you haven't taken a cent for the past 6 months then either;
1) you're debt free (which most businesses aren't).
2) your spouse makes enough to where you don't need paid (many don't have that luxury).
3) you have enough saved up for get you through these past months (why weren't you paying your employees more then if you were able to save so much up)?
4) you're going bankrupt (I'm sure this is unlikely).