ATLANTA, GA--(Marketwire - February 24, 2010) - Sage North America today announced the launch of the Sage Minimum Wage Calculator, a web application that allows business owners to calculate the projected impact of the recent increase in hourly federal minimum wage on their business. The Minimum Wage Calculator will help small and mid-sized business owners get a quick snapshot of the long-term impacts of federal minimum wage increases on their business, so that they can plan accordingly.
A recent survey of Sage's small and mid-sized business customers found that 44 percent of them have been negatively affected by the recent minimum wage increase, and 29 percent have been forced to cut staff. In October, national unemployment figures reached the highest rate in over 25 years(i), and 22% of small businesses(ii) reduced employment during 2009. The resources provided by the Minimum Wage Calculator offer advice and suggestions to help business owners find ways to cut costs without losing valuable talent.
The calculator incorporates state-specific wage rates, and allows the user to define the number of employees, type of employment and hours worked weekly to determine the estimated impact a potential wage increase would have on the company's bottom line. Depending on the level of impact, the calculator then provides online resources to help business owners offset the added payroll expenses associated with the minimum wage increase. For example, companies can get practical tips and advice on customer focus, process improvements, money management, helpful checklists, and more.
"Small and mid-sized businesses nationwide face tremendous pressure from a variety of sources, including the minimum wage increase announced last year," said Connie Certusi, General Manager, Small Business Accounting Solutions, Sage. "After talking with our customers and understanding the impact, we've developed the Minimum Wage Calculator. It's another small way Sage supports small and mid-sized businesses, just as we have for nearly 30 years."
The calculator can be found at www.minimumwagecalculator.com.
About Sage North America
Sage North America is part of The Sage Group plc, a leading global supplier of business management software and services. Sage North America employs more than 4,100 people and supports nearly 3.1 million small and medium-size business customers. The Sage Group plc, formed in 1981, was floated on the London Stock Exchange in 1989 and now employs 13,400 people and supports 6.1 million customers worldwide. For more information, please visit the Web site at www.sagenorthamerica.com.
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(i) United States Department of Labor, Bureau of Labor Statistics. "Employee Situation Summary." (Oct. 2009) http://www.bls.gov/news.release/empsit.nr0.htm
(ii) National Federation of Independent Businesses. "Small Business Economic Trends (Jan. 2010) http://www.nfib.com/Portals/0/PDF/sbet/sbet201001.pdf
Contact Information:
Contacts:
Aimee Ertley
770-724-4556
Aimee.ertley@sage.com
Kara McClain
404-995-4531
Kara.mcclain@porternovelli.com