Small Businesses Add 89,000 Jobs But Minimum Wage Issues Loom





It’s another week where, on one hand, things look good for small business across the country.

And then …

There’s that other hand.

In the last week, we reported that small businesses and franchise businesses were each busy at the end of 2018 filling open jobs. That’s great. In total, according to ADP, it was more than 118,000 jobs between the two.

The 89,000 jobs added by small businesses in December, alone, was a record for this particular report.

But are we on the cusp of seeing some negative news on this very soon?



At the beginning of every year, more state and local governments enact their own employment minimum wage. This year was no different. We have a report filed this week on the latest updated minimum wages across the country.

And check out this report from one of our publishing partners, the Daily Caller, which shows the impact of these increasing minimum wages. In particular, check out the impact on small business.

For the rest of this week’s top small business headlines, check out our news roundup below.



Research

58% of Americans Believe Future will be Cashless, Is Your Business Ready?

A new Bank of America (BofA) report which looked into consumer mobility trends revealed 46% of Generation Z use their social media handles like a phone number. The report suggests phone numbers are on the verge of extinction.

Sales

5 Retail Lessons from Holiday 2018

The holiday shopping season is in our rear-view mirror—and there’s reason for retailers to celebrate. Consumer spending for holiday 2018 hit a six-year high of $850 billion according to the Mastercard SpendingPulse report. Online shopping grew 19.1% year over year. Overall, retail spending growth was propelled by strong sales of apparel (up 7.



Small Businesses Contributed to Record Christmas Sales on Amazon, Company Says

Amazon announced the 2018 holiday shopping season was one for the record books. And small and medium-sized businesses contributed to more than 50% of the items sold on Amazon stores this holiday season. The online retailer said the record-breaking numbers were the result of more items being ordered worldwide than ever before.

Small Business Operations

Small Business Owners in NYC Struggling with $15 Minimum Wage

New York City hiked its minimum wage for the third time in three years on Jan. 1 and small business owners are struggling to adapt to the steadily increasing labor costs. NYC Minimum Wage New York City’s minimum wage rose to $15 an hour for all employers with more than 10 employees at the start of 2019.

Startup

Announcing the “New” BizSugar, Here’s a Sneak Peek

We’re excited to announce some big news about our sister site BizSugar.com. There’s a brand new BizSugar! We’ve added some new features with many more coming.  New features include: Free tools: Calculators, templates and scorecards Mastermind Community: A private members community to gain the wisdom of the crowd when it comes to starting, managing and growing a business.

New Facebook Small Business Podcast 3.5 Degrees Launched Today

Facebook’s (NASDAQ: FB) new podcast exploring the unique interactions of small businesses in our shrinking internet-based world launched today.



Taxes

The Ultimate Guide to States with Laws Requiring Collection of Internet Sales Tax

As of June 21, 2018, the United States Supreme Court changed the laws regarding the collection of sales tax by internet sellers. The Supreme Court ruling in South Dakota v. Wayfair Inc., established that individual states can require ecommerce retailers to collect state sales tax on the goods they sell.

Technology Trends

Lenovo Introduces ThinkPad L390 and L390 Yoga Laptops with Business Users in Mind

When a PC manufacturer announces business laptops starting under $1,000 it will get the attention of small business owners. If the manufacturer is Lenovo and the laptop includes the ThinkPad line, their ear perks up even more. Lenovo says the ThinkPad L390 and L390 Yoga have been updated to give small business a reliable and durable device which is also affordable.

Small Businesses in These 12 Cities will be the First to Access 5G Mobile

Major carriers around the world have set 2019 as the year they will start deploying 5G services. For AT&T this will be the case in 12 cities across the United States, and small businesses in these locations will be the first to have access to the new technology.

Wix  Launches Products Allowing Small Businesses to Connect More Directly with Customers

Wix.com Ltd. (NASDAQ: WIX) recently announced the launch of a suite of promising new products for small businesses under the umbrella name, Ascend. Ascend helps entrepreneurs and small businesses easily and more directly connect with customers on the Wix platform using new tools such as SEO, price quotes, marketing and live chat with customers.



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One Reaction

  1. Minimum wages always throw a wrench into hiring. They impose an artificial limit that will virtually always lead to fewer jobs. While everyone at the old minimum wage is getting a raise, it comes at the expense of the fired/not hired employees. But rarely do the minimum wage laws try to address these folks who are getting the short end of the stick.

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