We recently partnered with CNNMoney to poll Manta’s small business community on the hot topic of a minimum wage increase. As expected, our business owner members responded in droves. More than 1,200 of them weighed in on the topic and the potential impact to their business.
For it – or against it?
The community seems to be split. Almost half (49 percent) oppose a minimum wage increase. Interestingly, support for the federal mandate trends downward as number of employees in a business increases.
95% agree that minimum wage is NOT a living wage. Most small business owners (72 percent) already pay their employees more than even $10.10 — the proposed increase.
Small business owners often give wage raises across the board and a minimum wage increase may have the effect of bumping up pay for their other employees. Owners said that the federal mandate may cause them to cut back on employee hours or raise their prices to compensate.
To read more results check out the full article on CNNMoney here.
What do you think about the proposed minimum wage increase? Weigh in on Manta Connect.