Scientific Opinion Poll Shows Small Businesses Strongly Support Raising Minimum Wage

Washington, DC̢??‰۝A scientific opinion poll released today shows entrepreneurs strongly support increasing the minimum wage because it will enhance consumer spending, which can increase the demand for small firms̢??‰? goods and services and boost their businesses̢??‰? bottom lines while strengthening the economy. The poll also revealed the majority of small business owners agree raising the minimum wage will allow low-income workers to more easily support themselves, relieving pressure on taxpayer-financed government assistance programs.

The poll, conducted March 4-10, 2013 by Greenberg Quinlan Rosner Research on behalf of Small Business Majority, found more than two-thirds of entrepreneurs support increasing the federal minimum wage of $7.25 an hour and adjusting it annually to keep up with the cost of inflation. Additionally, of the small business owners polled, which were predominantly Republican (46 percent identified as Republican, 35 percent as Democrat and 11 percent as independent), a sweeping 85 percent already pay all of their employees more than the federal minimum wage. This directly contradicts claims that increasing the minimum wage would hurt small businesses because they can̢??‰?t afford it.

"The current minimum wage isn't sustainable, which is why we pay our workers more,̢???? said Clifton Broumand, owner of Man and Machine in Landover, Md. ̢???It's in our best interest as a company to pay more than the current minimum wage because it helps us retain good employees and that has a direct effect on our bottom line. Increasing the current minimum wage is not only the right thing to do, but will have a positive impact on our economy by putting more money in consumers' pockets, which will help businesses like mine and many others."

Two-thirds of small business owners agree increasing the minimum wage would not only help the economy, it would also make low-income consumers more likely to spend money, driving up demand for small firms̢??‰? products. Another 65 percent agree increasing the minimum wage would help decrease pressure on taxpayer-financed government assistance that̢??‰?s needed to make up for low wages. These entrepreneurs also say it̢??‰?s not right that people working full time earn just $15,080 a year at the minimum wage̢??‰۝significantly lower than in the 1960s, adjusting for inflation.

̢???The vast majority of small business owners already pay their workers more than the minimum wage in order to attract and retain quality workers. By raising it across the board, more Americans will have more money to spend at small businesses. This will help them create jobs, which strengthens the economy overall,̢???? said John Arensmeyer, Founder & CEO of Small Business Majority. ̢???The economic domino effect raising the minimum wage would have would be significant.̢????

For the full report visit: http://www.smallbusinessmajority.org/small-business-research/minimum-wage/