By Ashley Boncimino
GSA Business, September 19, 2014
The S.C. Small Business Chamber of Commerce announced its endorsement of a $10.10 federal minimum wage, a nearly 40% increase from the current $7.25 per hour. The organization’s stance would increase the minimum wage over 2 1/2 years.
“Our state badly needs a boost in consumer demand, which is how Main Street businesses grow.” Small Business Chamber President and CEO Frank Knap Jr. said in a statement. “Per capita income has fallen by nearly 3% in the last five years. That’s the wrong direction. Wall Street might be booming, but that isn’t helping Main Street.”
Knapp said 61% of small-business owners support higher minimum wages. ...
The S.C. Small Business Chamber of Commerce said it would also support S.C. legislators setting a state minimum wage that was higher than the federal minimum wage. ...
Knapp said that while many large businesses would not support a higher federal minimum wage, many small businesses already pay their workers higher than the mandated minimum in order to reduce employee turnover and remain competitive.
Knapp said organizations that pay their employees higher than the federal minimum wage tend to have happier employees and better businesses. Knapp cited In-N-Out Burger on the West Coast and Costco Wholesale Corp., the CEO and president of which has reportedly come out in support of a $10.10 federal minimum wage. ...
“How can Costco get away with it and they’re doing pretty well, but Target can’t?” said Knapp. “This is about growing our local economy and putting money in the hands of people who will spend it on Main Street … We’re talking about the business side of this.”
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