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Money and Finances
Reply to "Small business question. Please do not laugh at me."
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[quote=Anonymous][quote=Anonymous]I would be curious to see the statistics about new businesses opening and closing. It would also be interesting to see this broken down by states and their minimum wage. My family and I lament the lack of mom and Pop restaurants that we have in Montgomery County. The majority that are opening up our all chain restaurants. Is it because they’re the only ones that can afford the red tape, minimum wage requirements and can float several months of waiting for the counties various licensing requirements? [/quote] For restaurants, it's rent, followed by being able to find/keep staff...not so much the staff salaries, no matter what the fat cat DC restaurateurs tell you. Reliable staff are worth the pay raises, but constant increases in food costs and meals taxes impact customer spending negatively (people eat out less and/or spend less when they do) while rents just keep going up.[/quote]
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