Dim Prospects

The Story

Running a small business is hard enough without local elected officials creating additional obstacles. New York City plans to implement new mandates in 2018 that will burden small businesses, in particular. The cost of the city government’s progressive agenda will fall disproportionately on those who actually employ New Yorkers.

The Facts You Need to Know

  1. Sick: The city’s paid sick leave law requires small businesses to cover the cost of an extra week’s wages per employee annually, and also imposes extensive record-keeping requirements. Read more.

  2. Wage: An increase in the minimum wage will likely lead to a rise in unemployment among the least-skilled New Yorkers. Read more.

  3. Wash: The city continues to try to force small business to unionize their workers or sign labor peace agreements in order to operate. Read more.

“Unfortunately, the real minimum wage is always zero.”

Thomas Sowell, Hoover Institute senior fellow

Twitter Take

The Past is Present

Under Siege: Small Business in New York By William Tucker (Autumn 1992)

“Small companies, the lifeblood of the city’s economy, are moving to the suburbs, fleeing New York’s high taxes and burdensome regulations.”

And in other news...

“Since ride-hailing apps like Uber and Lyft got a foothold in New York City, they have reshaped the way transportation works throughout the five boroughs, gutting the taxicab industry, apparently luring riders away from subways, and bringing many a passenger home from work or a party late at night.”