The Complexities Of Raising The Minimum Wage On The Retail Industry

Morning Edition
Marcy 8, 2021


by Alina Selyukh

The debate over raising the federal minimum wage to $15 an hour is often framed as big government versus small business. But among small shop owners, there is little consensus on the proposal.

“Would there be a shock in South Carolina if [minimum wage] went from $7.25 to $15? Yeah, there would be a shock. But, small businesses are probably not going to shut down because of it. If all their competitors have to do the same, they will have to adjust either pricing or find efficiencies in their operation.” -Frank Knapp Jr., President & CEO of the South Carolina Small Business Chamber of Commerce which in 2014 endorsed raising the minimum wage to $10.10 an hour.

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