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What Michigan's minimum wage increase means for small businesses

Small businesses have been leading the way in job growth in Michigan. Michigan's minimum wage rises above $10 starting this year; the increase from $9.87 to $10.10 was set by the "Michigan Improved Workforce Opportunity Wage Act of 2018" and is part of multiple annual increases.

Marick Masters, a professor of business at Wayne State University says this raise should be manageable when it comes to small businesses in the state.

"Most recent year, you had about 170,000 person increase in the number of employees in small businesses in Michigan. So that's something you want to sustain, and you wouldn't want to set the minimum wage perhaps at a level that would detract from that," says Masters.

Read more at CBS Detroit.

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