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Small business owners worried about minimum wage increase








KENMORE, New York (WIVB) ̵

1; On Monday, December 31, the minimum wage in the state of New York will rise again. Starting Monday, the minimum wage in the state of New York will change from $ 10.40 to $ 11.10.

Some small businesses in western New York said customers would eventually pay the price.

"I have to raise prices and I think that's true for many other restaurants – it all costs more," said Bob Bolt, owner of Mike & # 39; s subs in Kenmore.

For many small businesses, raising the minimum wage equates to a rate hike.

Bolt told News 4 that only through rising prices can he produce good food and good service.

"I do not think raising the minimum wage supports small businesses, I think it can hurt them, people have to pay more, they stay at home, they go somewhere else, I think they only do it in general hurt, "said Bolt, who owns his restaurant for 37 years.

In the last two years, the minimum wage in the state of New York has increased by 70 cents.

By the end of 2020, the minimum wage in New York State will be $ 12.50. After all, it will reach $ 15 an hour.

Bolt disagrees with this increase in the minimum wage and argues that wages should only increase with market demand.

"When other companies start paying more, the pressure is on, you have to pay people more, if the minimum wage goes up or not, it's a pressure on the free market, and you have to pay more." [19659003] The Fiscal Policy Institute estimates that more than 1.2 million New York State employees will benefit from this pay rise.


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