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Opinion Poll: Small Businesses Support Increasing Minimum Wage

Publisher: 
Small Business Majority
Date: 
Wednesday, 24 April, 2013

Small business owners nationwide are recovering from the Great Recession and slowly fortifying their businesses. It is the jobs these small businesses provide and the consumers they serve that keeps our recovery moving. Entrepreneurs nationwide recognize we need to foster this trend. According to a national scientific opinion poll conducted for Small Business Majority, small business owners widely agree our federal minimum wage should increase so that small business employees and consumers have more money in their pockets. 

More than two-thirds of small business owners support increasing our federal minimum wage—up from the $7.25 an hour rate that took full effect in 2009—and adjusting it yearly to keep pace with inflation.

Main Findings

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.

Two-thirds support increasing minimum wage, adjusting it yearly with cost of living

Do you favor or oppose increasing the federal minimum wage, up from $7.25 currently, and adjusting it annually after that increase is enacted to keep pace with the cost of living?

The vast majority of respondents pay all of their employees more than minimum wage: A sweeping 85% of small business owners surveyed do not pay any of their employees the federal minimum wage of $7.25.

Vast majority of small businesses pay employees more than minimum wage

Changing subjects to other issues facing the country and small businesses, do you pay any of your employees the minimum wage?

Two-thirds of entrepreneurs believe increasing minimum wage will boost consumer demand for small businesses, helping them grow and hire: A 65% majority agrees with this statement: “Increasing the minimum wage will help the economy because the people with the lowest incomes are the most likely to spend any pay increases buying necessities they could not afford before, which will boost sales at businesses. This will increase the customer demand that businesses need to retain or hire more employees.” Moreover, one-third of owners strongly agree with this statement.

Two-thirds of small business owners believe increasing minimum wage will boost consumer demand and the economy

Do you agree or disagree with the following statement regarding the minimum wage? 

Increasing the minimum wage will help the economy because the people with the lowest incomes are the most likely to spend any pay increases buying necessities they could not afford before, which will boost sales at businesses. This will increase the customer demand that businesses need to retain or hire more employees.

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State(s): 
National