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Do you think by raising the minimum wage it slows the growth of small business?

Update:

so what dose that mean for potential investors

22 Answers

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  • 1 decade ago
    Favorite Answer

    Yep! absolutely!

  • 1 decade ago

    I think that goes without saying. If small business's' have to pay more that means less money in their pockets. Nine out of every 10 small business's already failed withing the first 5 years before they raised it. It definitely can't help!

    The funny thing you never hear when the liberals were crying about "not being able to raise a family on minimum wage" is that only 4% of Americans make minimum wage. And 80% of them are teenagers!!!!

  • Anonymous
    1 decade ago

    Of course it does. Staff will have to cut (laid-off or fired) or prices will have to increase. And please don't tell me that you can't raise a family on minimum wage. Is that not a big f'.. ing clue that you're not suppose to be raising a family on minimum wage. You should be living with Mom and Dad in their house and going to school. Your poor decision making should not, as an end result hurt my small business. Compassion, yes. Keep your legs crossed and your nose in a book until you get out of high school.

  • Anonymous
    1 decade ago

    It might but think about it. Most businesses, even small are paying higher than minimum wage just to get help. Raising the minimum wage really doesn't affect that many people, except at entry level positions.

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  • Frank
    Lv 6
    1 decade ago

    No, they raise their prices to accommodate for their higher payrolls. People have to pay more for things, but in the end it is better because more people have more money to spend. Most conservatives will argue that the opposite will happen... But look at places like San Francisco where the minimum wage is around 9 dollars. Everything is more expensive, but more people can make a decent living because the disparity is less, and their buying power is greater.

  • Ice
    Lv 6
    1 decade ago

    No. Small business pays what it takes to get people to do what they need. The ones raising the biggest stink about minimum wage are the McDonald's and Burger Kings, and other national chains that see their employees as anything but assets. Another piece of nonsense legislation is the lower minimum wage for wait staff. There should not be a dependence upon tips to subsidize wages because these employers are to cheap to pay their help a living wage. The argument that the cost to eat out will rise is crap, because they are already asking me to pay 15 - 20 percent more in tips. It's pure and simple b****sh**. It's a bigger subsidy than the farm and ethanol subsidies combined and it's a travesty.

  • 1 decade ago

    Raising the minimum wage forces cost increases on companies. With smaller businesses, they have to hire less or lay off, unless they can raise prices.

    What liberals do not get with the minimum wage is simple: let free markets determine things. They work themselves out

  • Mother
    Lv 6
    1 decade ago

    Yes. Minimum wage is not supposed to be a living wage. If you want to make more money then you do flipping burgers then go to school. Get some Vo-Tech training . Learn a trade. Minimum wage is for high school kids in their first jobs.

  • 1 decade ago

    No. I don't believe that small businesses pay the minimum wage. The minimum wage is meant to help keep up with inflation. If people are being paid the minimum wage and that wage is not really sufficient to live, that employee really has no loyalty to the business he's working for.

    Employee and customer loyalty is crucial for small businesses. You want to attract and keep good people. The people who work for minimum wage simply can't get better paying jobs. Raising the minimum wage helps small business, because it makes employees happier and a happy employee is a loyal employee.

  • Anonymous
    1 decade ago

    Well the fact that no one makes minimum wage is enough evidence for me that we don't need a minimum wage. McDonald's pays well over min. wage in most places. The latest increase was meaningless. Wages are set by the market, people should get paid what they are worth, and usually do.

  • 1 decade ago

    Most of minimum wage earners are High School kids.

    Most adults who earn minimum wage have got a problem.

    Most small companies that hire adults at minimum wage will remain small companies.

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