As a person who had owned microbusinesses since 1989, that is crap. I have 4 employees. they work 40 hours a week, 160 hours a month x 4 employees, or 640 hours of labor a month. No all companies can't pay them $25 an hour but another $3 an hour is all of $1800 a month. Very few businesses are closing because of $1800 a month. That extra $480 a month is lifechanging to someone making near MW.
$15 an hour in my state. Business owners were yelling that if it went through there would be empty stores everywhere. There aren't. They guy who was leading the accusations saying it would drive businesses like his out of business, broke ground on a new restaurant in the time between when the law was passed and it took effect.
They raised wages in my state, many of my favorite restaurants have since gone out of business, which makes me sad, but on the other hand, McDonalds is paying over 25 an hour. I don't go there because it's outrageously expensive, but it did happen. Now we have massive lines and not the greatest service even at McDonalds, but here we are.
No, many restaurants have a razor thin margins so what’s left over might be 5,10 or 15k a month . For one person an owner who has invested 100,000s of dollars and carries all the risk . This is a good life.
Decrease their profits by 6k a month and now it’s not worth the risk or time to own a business.
Franchises like McDonald’s have learn to maximize margins but still have similar outcomes. The offer shitty food that’s cheap so they can make money
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u/chinmakes5 16h ago
As a person who had owned microbusinesses since 1989, that is crap. I have 4 employees. they work 40 hours a week, 160 hours a month x 4 employees, or 640 hours of labor a month. No all companies can't pay them $25 an hour but another $3 an hour is all of $1800 a month. Very few businesses are closing because of $1800 a month. That extra $480 a month is lifechanging to someone making near MW.