Drastic minimum wage increases represent significant challenge to small business owners

To watch the interview I did with Fox Business anchor Trish Regan on this topic, please click on this link: http://tinyurl.com/zybh9jz.

Yesterday, I joined Fox Business anchor Trish Regan and Obama’s former Council of Economic Advisers chairman, Austan Goolsbee, on The Intelligence Report with Trish Regan to discuss the impact of minimum wage increases on small business owners like our franchisees. Businesses will have to figure out the best way to deal with the high labor costs which will lead to price increases, more efficient labor management and automation. During the segment, I took the opportunity to reiterate the fact that drastic increases will unfortunately hurt low skilled workers who need entry-level jobs the most. Needless to say, Mr. Goolsbee and I disagreed.  The segment is entitled: Regulations a challenge for small business.

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