PPT-Economic Effects of Enacting the Raise the Wage Act on Small Businesses and the U.S. Economy

Michael J Chow Auber Annual Fall Conference October 14 th 2019 The Minimum Wage in the United States Some History FDR and the Fair Labor Standards Act Fair Labor Standards Act of 1938 FLSA. Della G. Rucker, AICP, CEcD. The Wise Economy Workshop. Jim . Kinnett. , CEcD, FM, EDFP. The . Kinnett. Consulting Group. Mark . Barbash. , FM. Economic Development . Consultng. Our Agenda. Changing Thoughts. Starting and Growing a Business. © 2015 McGraw-Hill Education.. . CHAPTER 4. Options for Organizing Business. CHAPTER 5. Small Business, Entrepreneurship, and Franchising. 5. -. 2. Learning Objectives. By Labor Education Service. University of Minnesota. Quiz: What was the year?. “High hourly wages mean nothing to a worker if he has no job.”. C.C. Shepard, . Southern States Industrial Council, 1938. . Learning Objectives. Define what a small business is and recognize the fields in which small businesses are concentrated.. Identify the people who start small businesses and the reasons why some succeed and many fail.. Expansion/Recovery. Peak. Contraction/Recession. Trough. The factors that affect supply and demand also cause the fluctuations in the business cycle.. BUSINESS INVESTMENT. Businesses invest in capital goods –such as new machinery- to increase their production. Harms Idaho’s Teenagers & Small Businesses. 1. Having a minimum wage in the first place is wrong.. Forcing someone to pay more for a service than he would otherwise is strong-arming. It’s an abuse of property rights. . Chapter 2. Understanding Basic Economics. Copyright © 2017, . 2015, 2013 Pearson . Education, Inc. All Rights . Reserved. Introduction. This chapter offers. A brief introduction to economics from a business professional. Process Recommendations. Finance Committee – February 20, 2019. Develop a Business/Non-profit . Profile. Most . of Olympia’s businesses are small or very . small. Olympia is home to a . number of non-profit organizations. All would be impacted by an increase in the minimum wage. A business profile will help identify the number and scale of . 2 That netincrease would result from higher pay billionfor people who were employed at higher hourlywages under the billoffset by lowerpaybillionbecause of reduced employment under the billIn an avera Foreword2About BERO3BERO WebsiteDashboards NonEmployer and Economic Inclusion DataNonemployeror Sole Proprietor and EmployersBusinessesEconomicInclusion ofBusinesses inTennessee5Tennessee SmMrPSPMrP6 What We DoExecutive OfficeSupports all divisions through Strategic Planning Operations Finance Contracts HR and Employee Engagement Marketing /Communications/ Government Relations Policy and Data and An expert takes on the crisis of income inequality, addressing the problems with our current compensation model, demystifying pay practices, and providing practical information employees can use when negotiating their salaries and discussing how we can close the gender and racial pay gap.American workers are suffering economically and fewer are earning a living wage. The situation is only worsening. We do not have a common language to talk about pay, how it works at most companies, or a cohesive set of practical solutions for making pay more fair. Most blame the greed of America’s executive class, the ineptitude of government, or a general lack of personal motivation. But the negative effects of income inequality are a problem that can be solved. We don’t have to choose between effective government policy and the free market, between the working class and the job creators, or between socialism and capitalism, David Buckmaster, the Director of Global Compensation for Nike, argues. We do not have to give up on fixing what people are paid. Ideas like Universal Basic Income will not be enough to avoid the severe cultural disruption coming our way.Buckmaster examines income inequality through the design and distribution of income itself. He explains why businesses are producing no meaningful wage growth, regardless of the unemployment rate and despite sitting on record piles of cash and the lowest tax rates[0] in a generation . He pulls back the curtain on how corporations make decisions about wages and provides practical solutions—as well as the corporate language—workers need to get the best results when talking about money with a boss. The way pay works now will not overcome our most persistent pay challenges, including low and stagnant wages, unequal pay by race and gender, and executive pay levels untethered from the realities of the average worker. The compensation system is working as designed, but that system is broken. Fair Pay opens the corporate black box of pay decisions to show why businesses pay what they pay and how to make them pay more.  Objectives. Economic recovery concepts and principles. Economic impacts on individual. businesses and primary producers. Economic impacts on . a regional economy . The importance of the region's economic recovery to support community recovery,. Some Facts!. 77% of small businesses rely on personal savings for startup money. One third of small businesses start with less than $5000 . The average small business requires about $10K for startup capital.