Study: Small businesses are conflicted over prospect of higher minimum wage

11/21/2013 | Bloomberg Businessweek

(Scharvik)

Nearly half of small-business owners who responded to a survey say they support raising the minimum wage to $9.50 an hour. This is despite the fact 60% of respondents believe raising the minimum wage would be bad for business and 3 in 10 say they would have to lay off employees. The apparent contradiction might be because of concerns over economic inequality and the prospect of increased consumer spending if wages rise.

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