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This factory
These stores are the kinds of small businesses
That account for significant part of america's 's economic activity confidence by the owners of these stores and factories is down as election near anxiety rises
According to a bank of america survey
It's really important
Because small business owners walk a very fine line around profitability
And if you think about what some of the biggest expenses can be for a small business owner
It can be
Taxes it can be the minimum wage can have a huge impact um and so when you think about and health care costs
When you think about those three items
It
It could actually make a break of business
The calal by both the leading republican and democratic presidential candidates to increase the minimum wage is especially worrying for miniyees
Which are defined as companies
Having one hundred employees are less
Steve hung
Who owns a garment factory in manhattan
Opposes the city's monday to raise the minimum wage to fifteen dollars an hour by the end of twenty eighteen
I tried to give my workers a little bit of raise every single year
And most of my workers average about between eleven to thirty dollars
And that's probably in this industry one of the higher ones
But now with the new law of fifteen dollars in our minimum
You're raising the minimum wage from eight seventy five to fifteen thousand and three years
Which is eighty percent
I don't know how to sustain that nearly three quarters of small business owners also worry about rising health care costs
In fact
The survey shows twenty two percent are postponing hiring citing uncertain dig
Regarding the election and health care policy
Chief economist terrorst claare of the employment search engine indeed dot com says ratically different policies from the left and wrright crethe challenges for business
那i do think that empplayers are really really struggling to get a sense of how to make their their hiring plans for the long term in the current political environment
They are hearing very different potential economic policies
And that that makes it more challenging than any specific policy is not knowing what what speciicicy will
And with some small businesses still struggling to recocofrom from rececesion the stickes for the twenty sixteen presidential election bloom especially large brinachachesman
Vivoa news new york