WASHINGTON (March 6, 2014) — A majority of small business entrepreneurs support the Obama administration’s effort to raise the minimum wage to $10.10 an hour from the current $7.25.
That’s according to a scientific opinion poll conducted on behalf of Small Business Majority, a small business advocacy group.
The poll, conducted Feb. 18-25 by Greenberg Quinlan Rosner Research, showed that 57 percent of small business owners support the administration plan of raising the minimum wage in three steps over two-and-a-half years to $10.10, Small Business Majority said.
In the retail/restaurant sector, 61 percent of owners supported the increase, it said.
Of the respondents in the poll, 47 percent identified themselves as Republicans, 35 percent as Democrats and 18 percent as independents. Eighty-two percent said they already pay all their workers more than the current federal minimum wage.
“This survey confirms what we already know,” said Christine Owens, executive director of the National Employment Law Project, in a press release.
“Small business owners care about their employees, their communities and their local economies,” Ms. Owens said. “They know that raising workers’ wages is fair for workers and good for business.”
Fifty-two percent of small business owners said increasing the minimum wage would be good for small businesses, and that people will have a higher percentage of their income to spend on goods and services, because low-wage earners tend to spend money at local businesses — which will be able to grow and hire new workers.
More than a third (35%) say raising the minimum wage would help make their business more competitive because competitors won’t be able to undercut them on labor costs.
Small Business Majority describes itself a national small business organization, founded and run by small business owners to focus on solving the problems facing small businesses today. It claims to engage small business owners and policymakers in support of solutions that promote small business growth and drive a strong economy, along with advocating for policies that create jobs and maximize business opportunities and cost savings in healthcare reform, clean energy, access to capital and other areas.
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