Letter to the Editor By Tim Frick
Daily Herald (IL), Dec 1, 2014
As a business owner in the Chicago area, I'm tired of hearing politicians and pundits claim that raising the minimum wage will hurt small business to justify their own opposition. Nothing could be further from the truth. Raising the minimum wage is smart business and smart policy to jump-start our economy now and strengthen it for the long term.
Illinois businesses need more customers with more money to buy our products and services. Workers at one business are customers at other businesses. We can't grow our businesses or the economy by paying wages that workers can't live on and then bemoaning weak consumer demand.
Successful businesses see wages as an investment, not just a cost. By paying livable wages, businesses save money with lower employee turnover and do better with higher worker productivity and more satisfied customers.
A majority of small business owners share my views. A recent national poll found that 61 percent of small business with employees supportraising the federal minimum wage (see www.businessforafairminimumwage.org) from $7.25 to $10.10 and increasing it in future years to keep up with the rising cost of living. And we know that 67 percent of Illinois voters from all walks of life approved the measure to raise our state minimum wage from $8.25 to $10 by Jan, 1.
Providing a fair wage to all workers creates stronger companies. It supports a healthy economy with a vibrant local business sector and solid consumer demand for products, and the shared prosperity we need for a growing rather than shrinking middle class. I urge state lawmakers to vote to raise the minimum wage in this veto session.
Tim Frick
Owner, Mightybytes
Chicago