You’re right. If you make a bad mistake.... you might have to go back to... flipping burgers... where you’ll be underpaid and have no savings since you lost it with the company. I could see why that keeps you up at night... I sure wouldn’t want to do it again... if only they would pay the burger flippers a wage that didn’t mean destitution. Maybe you wouldn’t be so worried about making a mistake. Maybe more people would try out small businesses if they didn’t mean such dire consequences for failure. Or maybe more small businesses would be able to innovate to try and keep up with their competition.
The deck is just so stacked against small business when it comes to competing against their large competitors. Take Walmart, they get credit terms of net 60 or net 90 for their purchases. Small business is typically cash at the time of purchase. They get bulk discounts which aren’t available to mom and pop. The ACA did away with our ability to form a group among ourselves to lower our healthcare costs while Walmart still gets such discounts. It’s just not a level playing field. The Walmart’s of the word will have no issues with a $15 minimum wage. They will automate and reduce workers. Small business simply doesn’t have the resources to do the same. I haven’t even addressed the bulk discounts they receive in shipping, etc.... It is what it is.