Minimum wage advocates: Small businesses thrive when workers are paid more

Critics of a minimum wage increase in Colorado have a familiar refrain: Forcing employers to pay more will push small businesses to failure, especially those in rural communities.

But in a big to put the popular argument to rest, the Colorado Businesses For A Fair Wage campaign today released a statement signed by over 200 Colorado businesses, including restaurants, clothing stores, energy companies, auto service shops and others, making the case for boosting the minimum wage.

Businesses For A Fair Wage is pushing to pass Amendment 70, which would gradually raise Colorado’s minimum wage from $8.31 to $12 per hour. Businesses signed the group’s statement to confirm that they believe an increase in the minimum wage is “good for business, customers and our local economy.”

The statement says that workers who are paid more are less likely to leave, reducing turnover. It also points out that workers with more money in their pockets have more to spend on Colorado’s economy.

Those against Amendment 70 are primarily represented by Keep Colorado Working, a coalition of industry groups, chambers of commerce and businesses. The opposition campaign has repeatedly made the case that, though businesses in urban centers like Denver and Boulder may be able to pay their workers a bit more, rural employers would be seriously harmed by a minimum wage hike.

“It’s a one-size-fits-all that doesn’t fit Colorado,” spokesman Tyler Sandberg said.

Colorado Businesses For A Fair Wage bills is the Colorado office of a national network of business owners and executives who believe a fair minimum wage “makes good business sense.” The group says that business leaders continue to sign on daily.

Photo Credit: Denis Bocquet, Creative Commons, Flickr.