Sage Launches Minimum Wage Calculator

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, and 22% of small businessesii 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.