While federally or state-mandated increases in the minimum wage can impact employers of all size, they are particularly difficult on small businesses, which not only tend to employ larger percentages of minimum wage workers than larger businesses, but also find it more difficult to absorb the costs of these wage increases, given their often slim profit margins to begin with.

Some of these challenges are highlighted in the latest findings of the most recent Duke University/CFO Magazine Global Business Outlook Survey (www.cfosurvey.org), which were released in September.

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