Small Businesses Set For Perfect Storm In 2019

Small businesses are in for a perfect storm in 2019, which could push scores of them off the cliff.The first part of this storm is payroll, and it’s a tsunami. Many cities and states began hiking up minimum wage a few years ago, and this push for a higher minimum wage continues in 2019.Some states will increase the minimum wage to match the cost of living, such as Ohio and New Jersey. Other states will raise it in response to legislation created to establish a “living wage.” New York passed their own legislation to increase minimum wage to $15 an hour in New York City by 2018, for example. Washington D.C has also introduced legislation that aims to raise the minimum wage to $15, which will come into effect by July 2020.