LoginA strong majority of small-business owners support raising the minimum wage, according to a March 2013 poll of independent entrepreneurs by Greenberg Quinlan Rosner Research on behalf of Small Business Majority.
This new report is contrary to the stance of sector advocacy group, the National Federation of Independent Businesses (NFIB), which opposed an increase from the current rate of $7.25 an hour. The NFIB argues that such an increase would cut into already narrow margins experienced by independent owners and cause a net decrease in hiring.
Small business is credited with employing as few as one-third and and many as two-thirds of American's workforce, reports the Washington Post.
The Small Business Majority poll revealed that 67 percent of respondents support increasing the federal minimum wage and adjusting it yearly to keep up with the cost of living. The results were somewhat surprising since almost half of those surveyed identified themselves as Republicans and were all employers.
"I'm not surprised the poll indicates strong business support for increasing the minimum wage. That's what our members have told us. It makes good economic sense. A minimum wage increase will boost the consumer demand that spurs businesses to hire and grow," said Mark Jaffe, CEO of the Greater New York Chamber of Commerce.