This year, the minimum wage will increase in 18 states. Another 20 local municipalities will enact their own minimum wage this year, too.2018 Minimum Wage Increases
These state and local governments are acting on their own as the federal minimum wage stays at $7.25 per hour.
The local changes, however, are having an impact on small businesses in each location. And it probably won’t be long before other cities and states follow.
Small Business Trends spoke with Michael Schmidt, vice chair of the Labor and Employment Department at Cozen O’Connor in New York City about the top 6 things every small business should keep an eye on this year regarding wage increases and what they mean to your future and bottom line.Keep an Eye On Local Legislation
“The challenge is really minimum wage isn’t just a federal issue,” Schmidt told Small Business Trends. “We’ve had the same federal minimum wage since July of 2009. The movement has been on the state and local side.”
That means small businesses need to keep an eye on the minimum wage issues that crop up in their own backyards.
Setting up a Google Alert or staying on top of the local news can help you get a feel for what’s going on. Attending municipal council meetings and keepin