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PDF Editor FAQ

How can small businesses survive with a minimum wage of $15/hr?

When I was born in 1960, the minimum wage in the United States was $1.00. Today that dollar is the equivalent of $8.84 when adjusted for inflation, which is more than the current minimum wage.I started working at the age of 13 (under the table) in 1973, when the minimum wage was $1.60 ($9.43 in today’s money).By 1990 the minimum wage was $3.80, the equivalent of $7.61 today, which means that the minimum wage actually decreased to less than it was in both 1960 and 1973.Ten years later it appeared to increase to $5.15 ($7.82), but was still below what is was when I was born 40 years earlier.In 2011 the minimum wage was set at $7.25, where it has remained to this day.Every time the topic of the minimum wage has been brought up in my lifetime, Republicans and conservatives have whined and howled that raising the minimum wage “would crush small businesses.”Yet, it never happened.Raising the minimum wage to $15.00 today is the equivalent of $1.97 in 1960 dollars. Hardly a shocking increase, especially when compared to the astronomical increases in the salaries of corporate CEOs over the the same period. Today’s CEOs make over 1,000% more than their counterparts did when I graduated from high school.Have they made their companies over a thousand percent more profitable in the intervening years? No, in fact many receive huge payouts and Golden Parachutes even when they are complete failures.The biggest economic change in my lifetime has not been adjustments to the minimum wage, but rather the shift in the national focus of our political leaders concerning economic policy, from one that used to encourage the growth and prosperity of the middle class and the overall health of the entire economy, to policies that focus only on what is best for Wall Street and the investment class.Small businesses will not only survive a minimum wage increase, but will thrive if their employees are actually able to afford to purchase the goods and services they offer. However, no businesses will survive if we continue to crush American workers, who also happen to be the consumers who drive the economy.Inflation calculatorimage

What are some tips to starting up your own small business?

From an article I wrote for Inc. magazine: Just Starting Out? Avoid These 5 Startup Mistakes. You're Welcome.1. Decide if you want to be a small, independent business or a high-growth startup.This is a binary, critical, fundamental decision that will immediately answer over a dozen other questions. It will determine what type of corporate structure you use, which state you register in, what kind of financing you will be able to receive, how you will compensate your employees, and much more. A good test is to ask yourself, "Will I try to raise money from outside investors?" and "Do I plan to offer stock options to any of my employees?" If the answer to either is yes, you have no choice but to head down the more complicated, high-growth path. Switching from one to the other later is possible, but that can be very expensive.2. Figure out who The Entrepreneur is in the company.It's tempting to say that "anyone can be a founder," and "all founders on the team are equal," but in the real world, that's just not true. While experience has shown that founding teams of two people (what serial founder and venture capitalist Paul Graham describes as "a hustler and a hacker") tend to be more stable and successful, in every case one person is the primary driver. This is the person who is prepared to do anything for the business, give up work-life balance, and be the one to whom investors, employees, and partners look. The buck has to stop somewhere, and if you don't figure that out before you start, you are in for a world of hurt.3. If you have more than one founder, all of them must have vesting schedules for their equity.While it is tempting to assume that "vesting is for everyone else," I have seen far too many startups crash and burn when one founder leaves a company—along with half of that company's equity. Vesting protects everyone, including a startup's founders, so be sure that every employee's options vest, and every founder's stock reverse-vests from the very beginning. (Reverse vesting gives the company the right, decreasing over time, to buy back a founder's stock.) Trying to fix this one down the road will be very costly—and possibly a company killer.4. Whatever you do, do it with a professional.A penny saved on professional advice today is $100,000 lost in cleanup expenses down the road. While there are plenty of books and internet postings claiming that you can incorporate yourself and download forms from the web, you can't! Or, at least, you shouldn't. Every single serial entrepreneur with whom I have spoken has told me, "If only I hadn't tried to do it myself, I would've saved $100,000!" There's a reason lawyers and accountants go to school for this stuff. While starting a company might not be quite as difficult as brain surgery, I guarantee if you try to do it all on your own, you will screw it up—and then pay 10 times as much to get a professional in to clean it up.5. Don't start by raising money.Although it may come as a surprise to a lot of ambitious entrepreneurs, investors do not fund ideas, no matter how good or how potentially profitable they are. A typical angel investor looks at 40 opportunities for every investment made; a typical VC looks at 400. And the investments they make will be in companies, not ideas. Spending months trying to raise funds for an idea is fruitless and dispiriting. Do not even think about raising money from outside investors until you have developed your product and have at least a handful of pilot or beta customers. Other­wise, it's like trying to teach a pig to sing: All it does is waste your time and annoy the pig.

What are the best web development options for small business owners?

Small businesses don’t work the same way as big companies, so their websites shouldn’t be the same either. It takes a specialist agency to know how to design websites for small businesses, especially when they’re focused on growth.Data EximIT is a specialty web development firm provide their services for small businesses at all around the world. Their large team of developers has the ability, time, and resources to innovate and try new ideas, which means they’re constantly at the forefront of web development trends and technology.Small businesses don’t function the same way as big corporations, and it takes a special web development agency to understand that. And we are providing web development with every technology to develop web site for small business owners at affordable cost. Our team develop web application with provide maintenance and updates. Our large development team includes web designers, graphics designers, app developers, Quality analyst and Market analyst for your business marketing.We are builders, just like our clients. We create relevant, memorable and distinctive human-centered experiences. The kind of experiences that can change the course of a brand's story. It attracts, generates and optimizes interactions with the people who matter most to you.Provide web development services by our team:PHP developmentWordPress developmentThe Official Microsoft ASP.NET Site developmentRoR developmentAngular JS developmentNode JS developmentWhy we are different?Affordable pricingTop resultWorked with dozens of industriesTeam of experienced digital marketing experts24/7 SupportsHave a Project in Mind? Let’s talk!!!Consult us today to discuss your requirement and get a free quote!!

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