What the New Minimum Wage Law Could Cost Your Business
The article, “What the New Minimum Wage Law Could Cost Your Business,” featured in San Francisco Business Times, discussed how California business owners will need to do some prep work to get ready for the new minimum wage changes.
Jason Brown discussed passing the higher wage cost on to consumers.
Businesses also shouldn't be leery of passing on increased costs to consumers, Jason told the Business Times. Consumers who have supported a bill in theory may be willing to shoulder a larger financial part of the burden once they are enacted, he said.
"In many industries, an increase in wages leads to an increase in prices to consumers. It’s a cost of business, and while compliance is mandatory, low prices are not," he said. "But consumers are also the ones earning the higher wages, and generally support these bills, so businesses should be open to passing the cost on to the consumer."
As for surprises in the bill, Jason said that California employers need to be extra careful knowing their way around the law's exemptions.
To read the full article, please visit San Francisco Business Times.