Survey Shows Small Businesses Support Minimum Wage Rise

By: Associated Press
By: Associated Press

"More than two-thirds of small business owners support increasing the federal minimum wage, up from $7.25 an hour, and adjusting it yearly to reflect the cost of living:
A 67% majority of small business owners agree the current federal minimum wage of $7.25 per hour should increase, and that it should be adjusted annually to keep pace with the cost of living. Moreover, almost four in 10 (36%) strongly agree."

Small Business Majority

NEW YORK (AP) -- Small business owners support raising the federal minimum wage because they believe it will help the economy and, in turn, enable small companies to hire more workers.

That's the finding of a survey released Wednesday by the Small Business Majority, a group that advocates on behalf of small businesses. Two-thirds of the 500 owners in the survey supported an increase in the current minimum hourly wage of $7.25 coupled with an annual adjustment for inflation. Eighty-five percent said they pay their employees more than the minimum.

The survey's results are at odds with the stand against a higher minimum wage taken by other small business groups. But nearly two-thirds of the owners surveyed said a higher minimum would increase consumer spending and allow small companies to hire more employees.

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