A majority of small business owners want to see the minimum wage raised to $10.10 an hour and then tied to inflation,
according to a new poll conducted by Greenberg Quinlan Rosner for Small Business Majority. Not only did 57 percent of small business owners say they think the minimum wage should be raised, but 61 percent of those in the typically low-wage retail and restaurant industries agreed.
Aside from basic morality, these business owners have good reasons for supporting a minimum wage increase:
More than half of small business owners (52%) agree with this statement: “Increasing the minimum wage would be good for small businesses. It means people will have a higher percentage of their income to spend on goods and services and it is proven that low-wage earners tend to spend money at local businesses who will be able to grow and hire new workers.” What’s more, more than one-third (35%) say raising the minimum wage would help make their business more competitive because business competitors won’t be able to undercut them on labor costs.
Since 82 percent of those surveyed said they pay all of their employees more than the federal minimum wage of $7.25 an hour, the concerns about being undercut by competitors could be significant.
While Greenberg Quinlan Rosner is a (highly respected) Democratic polling firm, the small business owners polled actually leaned Republican: 47 percent were Republican to just 35 percent Democrat.
Sign the petition: Join the call for a higher minimum wage.