The increase of minimum wage by 25 states in 2021 is a good news/bad news announcement. While it is great for minimum wage workers, it could be the end of the road for many small businesses.
Some small business owners can well afford to pay their employees the new wages, which are up to $15 per hour in some states. And others will have to either cut their workforce or shut down their business if they can’t run their company with fewer employees.
Finding the balance is key for legislators as they try to give workers a living wage without crippling small businesses in their states.
Minimum Wages Increase in 25 States in 2021 is one of the articles covering issues that affect small businesses in this week’s roundup. As the new year gets going, you can count on Small Business Trends to keep you informed on all things small business.
Small Business News for January 1, 2021
Here are some of the stories for this week:
More Americans are using wireless technology to connect to the internet at broadband speeds. However, most home internet connections still rely on buried cables. But moving forward, wireless seems to be the technology service providers and consumers are most excited about. This according to The State of the Internet in 2020 report from HighSpeedInternet.com.
Gift cards have been a great way to bump up your business bottom line for years. Small Business Trends contacted Ray Clopton, CEO of LocalGiftCards.com. We wanted the goods on what SMBs need to know about this important business tool. Clopton started with a brief history. “Gift cards used to be a plastic card with a magnetic stripe like a credit card.
We have a real problem in the U.S. around supplier diversity with a significant gap with how much is spent on women-owned businesses.
Small businesses have to constantly grow and change to keep up with the market. The new year is an opportunity to evaluate where you’ve been and create goals. Members of the online small business community have tons of ideas for improving in the new year. If you don’t currently have a 2021 resolution for your business, here are some options.
When your business operates using an ecommerce website, your main goal should be to have your website encourage anyone who visits to make a purchase and then make it as easy as possible for interested parties to complete their transactions. Sadly, not every online business knows the best ways to do this.
Testimonials and reviews are essential to driving sales online now. This is because, over the past few years, most people have faced scams and fake news stories that have made them suspicious. Adding simple reviews can increase sales, as 63% of customers are more likely to purchase from a site that has reviews.