Many businesses operate on very slim margins. 95% of restaurants fail within the first 10 years, most often taking a family's entire savings with the collapse. Grocery stores operate on a 5% net margin. If you raise their costs by 5%, the only choice they have is to raise their prices, which means everyone pays the cost.
Take a look at these numbers. They do not include restaurants, but do cover several other industries.
Startup Business Failure Rate By Industry | Statistic Brain
The problem with any business is that once you have invested your money and find the business is not profitable, it is hard to get out because you lose almost everything you invested. You cannot do it with someone else's money because both banks and venture capitalists require a personal guarantee for loans made to small businesses. If you get a loan, your only choice to get out of that is to file bankruptcy, which means no one will ever invest in your ideas again.
You should start a business and hire some employees in order to fully understand how much risk is involved, and how difficult it is to make money.
These statements about him are disturbing at best.
The articles about minimum wage from liberal publications all fail to address a major important point. Almost no one works for minimum wage. Waiters and waitresses are included in the minimum wage figures, but waiters and waitresses make most of their money from tips. Minimum wage keeps the cost of restaurant food down, which is important because restaurants have the highest failure rate of any business. Owning a restaurant is like walking a tightrope for the first time between two high-rise buildings and without a safety net.His best-known assertion is that Property is Theft!
He was the first person to declare himself an anarchist, and is among its most influential theorists