By Alan Pyke
Nearly six in 10 small business owners support raising the minimum wage to $10.10, according to a new poll on behalf of Small Business Majority (SBM), with most respondents citing the prospect of increased consumer demand and improved competitiveness with large chain retailers as reasons for their endorsement of the wage hike.
The poll found 57 percent of small business owners support a $10.10 federal minimum wage, with 27 percent strongly in favor of the idea. The entrepreneurs polled were predominantly Republican, with 47 percent identifying as Republican or Republican-leaning as compared to just 35 percent who identified more with the Democratic party. Two thirds of the businesses polled had less than half a million dollars in revenue in 2013, and 59 percent of the business owners were older than 50 years of age.
