By Frank Knapp
September 19, 2014
The expected protestations came in from other business organizations as I expected from my announcement yesterday of the South Carolina Small Business Chamber’s support of at $10.10 minimum wage ... The state chamber that represents the big businesses of the state, S.C. Chamber of Commerce (no relation), claims that increasing the minimum wage would have a “negative impact on business costs and job creation”. We should expect this sentiment from the big chamber which has to protect their big dues paying members like Walmart and Target. But are we really concerned about maintaining the immense profitability of these giant retailers or are we more concerned about growing our small businesses? I’m siding with putting more money on Main Street instead of in the pocket of the Walton family.
My friend John Durst of the S.C. Restaurant and Lodging Association also opposed raising the minimum wage repeating the same old response that such a move would result in a reduction in employees and their hours in the hospitality industry.
Fortunately, there are restaurant owners who disagree about the results of raising the minimum wage. I spoke with Chris Sommers yesterday on my radio show about this very issue.
Mr. Sommers is a very successful owner of a growing chain of restaurants who by his own account runs a very tight ship. And it is because he keeps a close eye on his 465-worker stores that he knew exactly what would be the result of having a self-imposed $10.10 minimum wage.
You can hear the 12-minute interview here.
The bottom line is that if we are going to grow our local economies, we need to put more money on Main Street. Raising the minimum wage to $10.10 an hour will do just that and all small businesses will benefit….including restaurants.