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63% Small Business Owners Believe Higher Costs & Inflation with $15 Minimum Wage

Skynova surveyed 353 business owners and found that 63% were worried that a $15-an-hour minimum wage might lead to increased costs and inflation. Inflation may occur because as salaries increase so do operating expenses, leading to an increase in the pricing of products and services – which then results in increasing cost of living. 57%  thought that an increased minimum wage might make starting or growing a business more difficult whereas 53% thought that it could raise the unemployment rate.

Source: Skynova

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