Minimum wages are set to rise in several places across the country — and those higher wages could put pressure on small-business owners.
On July 1, Nevada, Oregon and Washington D.C. will raise their minimum wages alongside Chicago, San Francisco and Montgomery County, Maryland, among others.
While there have been proposals from the White House and prominent lawmakers to raise the federal minimum wage, the battle over the wage floor is playing out locally for now.
“I think that all the action is taking place in local areas like cities or counties or at the state level," said Jane Oates, president of WorkingNation, a nonprofit that aims to boost awareness of workforce issues. “But a lot of states haven’t done anything to raise their minimum wage.”
While many states haven't touched their minimum wages, the wave of increases, the push for pay transparency and the tight talent market have employees at all ends of the pay spectrum looking for more — a dynamic that is putting pressure on small businesses, which have struggled to keep pace with their larger counterparts.
Oates said discussions of raising minimum wages — particularly some of the federal proposals — must be balanced by the impacts on small businesses and consumers.
“I think those discussions have matured, and I don't think it helps anybody to talk about raising the minimum wage to a standard that could end up putting some small businesses completely out of business,” Oates said.
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