J.D. Powers Interview
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Key Trend To Watch: The new Trump administration is expected to reduce regulations affecting small businesses. Nominees during senatorial vetting sessions have indicated desire to role back many Obama era regulations. With energy prices stabilizing, costs to run operations will become more predictable. Interest rates are expected to go higher.
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By JoAnn Laing
Small Businesses With Low-Wage Immigrant Workers Need To Change
Ironically, the recent attempted nationwide boycott of restaurants and other businesses by workers to demonstrate their importance to the economy actually highlighted vulnerability of many smaller businesses.
As one expert recently told an audience of small business leaders: “If your business can’t survive without low paying immigrant labor, your business model is wrong.”
His challenge came as the nascent stirrings of a fundamental change in American business practices starts to gain steam.
For the first time, business leaders are facing the possibility that cheap labor provided by illegal immigrants may be eroding.
Two factors are lending themselves to this trend: President Donald Trump’s attacks on illegal immigration and labor unions’ efforts to codify into law the $15-an-hour minimum wage.
To be sure, many business leaders say they can’t survive as profitable entities without being subsidized by immigrants, who are in most cases are paid less than American counterparts.
Perhaps this new trend is a good thing for America.