702-871-8678
According to a survey by Discover Small Business Watch, a majority of small business owners do not predict any major impact from a minimum wage increase to their business. In large part because they already pay their employees above the proposed minimum wage increase. 70% of small business owners say an increase in the minimum wage to $7.25 per hour would have no impact on their employee costs. However, 29% do believe that an increase in the minimum wage will impact the price of goods and service they use.
There does appear to be a difference of opinion between employees and employers though when it comes to raise expectations. 37%of small business employees expect a wage increase in 2007, and 51% of them expect a bigger raise than the previous year. Only 9% of small business owners expect to give higher raises in 2007, while 61% of owners plan to give the same raises as in the previous year.
If you need help with small business accounting and payrolls visit accountingparadise.com or contact at 888-284-3821.
