Opponents to a national minimum wage hike are quick to point out that businesses' bottom lines will suffer, and company owners will be forced to eliminate jobs to make up the difference in profit.
A new survey by SurePayroll could serve as a valid argument in debunking the theory. According to the SurePayroll Small Business Scorecard, only 6 percent of small business owners said that an increase in minimum wage is a top concern.
Ten (10) percent of respondents listed healthcare reform as their biggest concern. On the other hand, 22 percent of respondents cited slow economic growth across the country as their primary concern.
"The issues that might get a lot of attention politically are not necessarily the main focus for a small business owner trying to support his or her family," said SurePayroll General Manager Andy Roe. "At the end of the day, they need to hire good people and generate cash. Entrepreneurs are telling us some of these more controversial issues just aren't as relevant to their businesses."
The survey also found that small businesses as a whole are performing well as 62 percent of those surveyed are reporting a profit. Meanwhile, 87 percent of the small business owners expect to be profitable in the bottom half of 2016 and 47 percent are on pace to exceed last year's revenue base.
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