According to a survey by Discover Small Business Watch, a majority of small business owners do not predict any major impact from a minimum wage increase to their business. In large part because they already pay their employees above the proposed minimum wage increase. 70% of small business owners say an increase in the minimum wage to $7.25 per hour would have no impact on their employee costs. However, 29% do believe that an increase in the minimum wage will impact the price of goods and service they use.
There does appear to be a difference of opinion between employees and employers though when it comes to raise expectations. 37%of small business employees expect a wage increase in 2007, and 51% of them expect a bigger raise than the previous year. Only 9% of small business owners expect to give higher raises in 2007, while 61% of owners plan to give the same raises as in the previous year.
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LAST YEAR PROFITS DROP TO
JUST OVER 16,OOO DOLLARS,
THIS YEAR THE INCREASE IN MIN.
WAGE WILL COST ME ABOUT
8500 DOLLARS. YOU DO THE MATH AND TELL MY 38 HIGH SCHOOL STUDENTS WHERE THEY CAN FIND WORK!!