Some states do not require a minimum wage while others are poised to mandate a minimum wage of $15 over the next few years. This makes the question of how to optimize the minimum wage a high priority for business owners. Labor costs make up a significant portion of a business’ expenses and, depending on the industry, can be as much as one-third. With labor taking up so much of a business’ overhead budget, how can small firms make the most of a higher minimum wage? 

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