Do small business owners support raising the minimum wage?

Saw this very interesting article:

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RAISING THE MINIMUM WAGE (with Business for a Fair Minimum Wage)

The federal minimum wage was last increased five years ago, in July 2009, to $7.25 an hour. A striking 61% of small business employers nationwide support increasing it to $10.10. This finding is higher than reported in previous small business polling, indicating growing support for the increase. Read the complete poll report, produced with Business for a Fair Minimum Wage.

Small business owners believe a higher minimum wage at the scale proposed would bring several benefits. The poll found:

  • 58% of small business employers say that raising the minimum wage would increase consumer purchasing power.
  • 56% of small business employers say raising the minimum wage would help the economy.
  • 53% of small business owners agree that with a higher minimum wage, businesses would benefit from lower employee turnover and increased productivity and customer satisfaction.

Small business owners are less partisan than Congress on the minimum wage. Contrary to common perception, Republican small business owners are evenly split – with 49% against and 49% in favor of increasing the minimum wage and adjusting it to keep up with the cost of living. Not surprisingly, support for raising the federal minimum is stronger among Democratic respondents, with 84% favoring, and independents, with 61% favoring.  Also, small business support for raising the federal minimum wage is strong across all regions of the United States.

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All of which tells me, YES! Small business owners support this in levels much higher than the people in our informal office poll would have thought. Read the entire post, small business owners had some interesting things to say on other recent “hot button” topics like climate change, access to credit and water pollution.  Read more here:

2013 Poll of Small Business Owners (from the American Sustainable Business Council)

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About Suncoast Community Capital

Suncoast Community Capital works with people of low-income to achieve financial stability in our community.
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