How Increase In Minimum Wage Could Impact Small Businesses

How Increase In Minimum Wage Could Impact Small Businesses

Local economists believe a state minimum wage increase to $10.10 per hour would hurt small businesses and their employees.
A bill that would raise the minimum wage in Kentucky from $7.25 to $10.10 an hour is headed to the full House for consideration.  A vote in that chamber could come next week. 

Some economists said raising the minimum wage would do little to help the economy. They said history shows that whenever the minimum wage is raised, the prices on goods and services also go up.

Some small businesses owners said they were unsure how they would cover a payroll raise.

Brian Alder, Executive Chef at Doodles Breakfast and Lunch in Lexington, said they could be forced to raise prices on their food if the minimum wage went up.

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