Business advocates differ on impact of raising the minimum wage

02/15/2013 | TheStreet.com

Hiking the minimum wage, as President Barack Obama has suggested, could take a toll on business, said Earl Wertheim, a franchise developer for The UPS Store. "Raising the minimum wage will not deliver customers with more money in their pockets," he said. "It will continue to discourage small businesses from hiring or even keeping minimum wage personnel." However, Lenny Verkhoglaz, founder of Executive Care, said that increasing the minimum wage to $9 an hour "wouldn't make a huge difference" in large cities.

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