By Patrick Clark
Bloomberg Business Week, Nov 21, 2013
... Almost half of small business owners support a hike [in the minimum wage], according to a new survey of about 600 owners published today by Wells Fargo (WFC) and Gallup.
Among the findings: Forty-seven percent of respondents, most of whom generate less than $2 million in annual revenue, said they would approve of a law setting the minimum wage at $9.50....
After President Obama proposed raising the minimum wage to $9 from its current $7.25 by 2015, we reported on the increasing support for a wage hike among small business advocacy groups. Backers of a wage hike pointed to growing unease with the gap between the rich and poor, and a way to reduce worker turnover. Another practical-minded argument: Higher salaries for the lowest-paid workers could help boost consumer spending.
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