Six Reasons Why Florida's Small Businesses Support Amendment 5
1. It does not cost small business jobs. In fact, increasing the minimum wage could increase employment.
Despite the rhetoric, no credible study has ever found significant job loss from raising the minimum wage, whether it’s done in good economic times (1997) or bad (1991). Research shows higher wages actually can increase employment by improving business’ ability to attract retain and motivate workers. Eight of 11 states with a minimum wage above the Federal level last year exceeded the national average for job creation. And the vast majority of those jobs were created by small businesses.
2. Increasing the minimum wage strengthens the local economy.
Raising the minimum wage puts more money in the pockets of working people, spurring economic growth and giving a boost to local small businesses. One recent study predicts that low-income neighborhoods will experience a 3 percent increase in retail sales if the minimum wage is raised. This would provide critical support to small businesses, particularly those affected by the recent hurricanes.
3. Floridians value hard work.
Minimum wage workers do some of the most important jobs in our society – like care for children and the elderly – and they deserve fair pair for their hard work. The typical minimum wage employee is 36 years old, has 18 years of work experience and is raising a family, yet they make only $10,712 a year, 28% below the poverty line. We can do better.
4. Small businesses can provide better pay and still be competitive against big corporations.
Small business owners often view their employees as part of their family. They want to treat them fairly and pay a reasonable wage. However, small businesses still must compete against chain stores and large corporations, which are most likely to pay the minimum wage. By raising the bar for everyone, small businesses can offer higher pay for their workers yet not lose competitive ground.
5. Workers are our greatest asset, and increasing the minimum wage will make them more productive.
Raising the minimum wage will ease the economic pressures employees face, allowing them to better focus on their jobs. Studies suggest that impacted businesses more than recoup the increased wage by reaping the benefits of higher worker productivity and lower turnover rates.
6. Raising the minimum wage will help our state financially.
Not only will local tax revenues increase due to the boost in consumer spending, but thousands of working Floridans also will be elevated out of poverty and off government programs. Our state will generate needed funds as well as save money, all while encouraging and enabling more Floridians to have greater self-sufficiency.
Amendment 5, on the November 2nd ballot, will raise the minimum wage a dollar, impacting 100,000 Florida workers.