AUSTIN — Amazon is increasing its minimum wage for all of its employees. While this is good news for some, a financial expert said small local businesses could take a hit.
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Comics and board games are what customers and employees love about Dragon's Lair Comics and Fantasy.
"I'm big into dungeon dragons, all the table top RPG’s,” said Stephen Campbell, an employee.
“Pretty much anything geeky in the world that you can think of we try to put in here for people to look at,” said Angie Blackman, owner of Dragon’s Lair Comics and Fantasy.
The Austin-owned business has been around for more than 30 years, but despite its steady flow of loyal customers, Blackman said she recognizes times are changing.
“I'm not afraid of the conversation,” said Blackman. “I know it's coming."
She's talking about the rise in salaries and competing with big companies for employees. On Tuesday, Amazon announced its upping its minimum wage to $15 an hour for all its employees. That includes Whole Foods employees too. The company plans to do this on Nov.1, but what's good news to some is not good news to all.
"It is a constant battle,” said Blackman. “This is an employee’s market right now. You can look at any strips in the city and see signs for we're hiring, we're hiring, we're hiring because there are a lot of open choices which is wonderful, but I can't be competitive."
"For local entrepreneurs who are looking to hire workers, it's a very difficult market in which to find good talent,” said Michael Sury, a lecturer in finance at the University of Texas in Austin.
Blackman said she saw this coming and has already created a plan to compete.
"I don't think people can live on $7.25 an hour,” said Blackman. “What we're trying to do is get people at least three or four dollars above minimum wage."
She hopes to do this by January 2019 and she said it's because she wants keep her skilled employees and wants them to take pride in what they do.
“I don’t think that’s something you can do if you’re putting somebody at wages that are basically poverty level wages,” said Blackman. “I think that’s why it’s so important for me to elevate them because the country has to change.”
Blackman has about 20 employees and offers paid sick time plus vacation time, but now she's working on cutting down expenses so she can increase salaries.