A new survey found that President Barack Obama’s minimum wage hike would shutter 3 percent of small businesses and force 30 percent to curb hiring.
The Lucas Group, a national executive search firm, polled 400 small- and mid-sized businesses on the effects that the $10.10 wage hike would have on companies. It found that many small and mid-sized companies, especially those in the service sector, would be forced to hike prices, fire employees, or eliminate new hiring altogether.
