Service centers are a first resource for starting a small business in Michigan. Ron Stevens of the Michigan Small Business Development Center said he’s surprised that more employers didn’t complain about hiring difficulties. It’s a constant theme among businesses seeking help from his Ann Arbor office, which serves a five-county region. About 50 percent more businesses are seeking help than last year, while the number of clients also spiked. Michigan’s unemployment rate in May was 5 percent, while the number of people in the workforce was 216,000 less this spring than just before the pandemic. 33 percent of businesses reported staffing reductions due to the pandemic.
From information on the PPP & EIDL to updates on new grants and more, visit our COVID-19 resources page for the latest on Michigan Small Businesses Near Me support. Learn from articles, resources, success stories and events meant for small businesses just like yours. If you’re looking to create a succession plan for business ownership or an exit strategy, our team is equipped to help you through this stage of the entrepreneurial life cycle. Guest writer Tieka shares some of her favorite Michigan businesses and how you can shop locally for all of your gift needs.
Small businesses in low-income ZIP codes experienced a revenue decline of 4.4%, compared to January 2020. In Michigan, as of August 9, 2020, total small business revenue decreased by 15.9% compared to January 2020. Looking back, shortly after the MI Stay at Home Order was declared on March 24, small business revenue decreased as low as 51% compared to January 2020. By comparison, the overall small business revenue for the U.S. is currently 21% below normal levels.
Welch, who now splits his time between flying aircrafts and running the busy Midland cookie shop, is one of nearly 280,000 Michigan businesses that formed since March 2020. When comparing small business revenue by industry, disparities are profoundly influenced by the current state of the pandemic. As of August 7, 2020, leisure and hospitality small business revenue decreased by 42.5%, compared to January 2020. This is most likely caused by the uncertainty of the virus and the enormous decline in travel. Education and health services small business revenue decreased by 24.6%, compared to January 2020, and retail and transportation small business revenue decreased by 5.3%, compared to January 2020.
The business uses recycled and unused materials and turns items into one-of-a-kind furniture pieces. This is a sustainability effort that Shepherd says helps to preserve Detroit’s art and history. Woodward Throwbacks has a showroom and a warehouse, and the team of 10 people has expanded its services beyond furniture design to offering interior design. The store offers anything from tables and dressers to lighting and hardware. A Hamtramck-based business called Woodward Throwbacks is featured in a video created to promote Black-owned Friday, a partnership between Google and the U.S. Black Chambers Inc. that shows consumers how to search for products from Black-owned businesses.
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The blog also reported that 78% of small businesses believe profits from the season will keep their businesses running through 2022. Many of metro Detroit’s entrepreneurs have plans to expand Small Business Saturday throughout the full weekend this year. • Auxiliary Aide Services are available upon request to individuals with disabilities. Yet they’re having to do that, he said, due to trouble filling all available jobs. “What this tells me is that they’re not giving up, in spite of the challenges, and they’re aggressively going toward the future and keeping the employees they have,” Calley said.
Take the first step now and contact an attorney in your area from our directoryto discuss your specific legal situation. Homeowner’s insurance—If you are operating your small business out of your home, you can add riders to your homeowner’s insurance to cover business risks like property damage or theft. There are a multitude of jobs available throughout Northwest Michigan with competitive wages and for a variety of skill levels. “While that was a factor early in the pandemic, I don’t think that even comes close to telling the full story of what’s happening here,” he said.
For more than a decade, Blue Cross has worked hand in hand with physician and hospital partners to improve the delivery of care. This has resulted in higher-quality health care with fewer unnecessary tests and procedures, and an emphasis on preventative care to avoid costly emergency situations. Blue Cross Blue Shield of Michigan is continuously monitoring rate trends for the small business customers who offer our health insurance to their employees. One reason the business owners wanted to help out is because the number of clients at the gym decreases in the winter, said Ja’Nye Hampton, 22, owner of Detroit Flower Company, a customizable flower shop. The holiday season often brings people together for gatherings, and three business owners wanted to make that happen in one space while giving back to another small business — Hustle Flow Labin Detroit. Offerings include a pop-up shop at the Hustle Flow Lab gym in Detroit, or maybe you’d like to watch a celebrity promotional video created by Google.
Governor Whitmer is putting Michigan’s people and raising families’ incomes at the center of economic development in Michigan. Since 2000, Michigan’s per capita income has lagged the national income growth and 56% of Michigan’s jobs are below the national median. Michigan is now focused on supporting the creation of jobs that have the pay and benefits to support a middle class lifestyle or provides the career pathways to that type of job in the near future. The Michigan Small Business & Technology Development Center provides consulting, training, and research to assist small businesses launch, grow, transition, and innovate. For advanced tech businesses, MIchigan SBDC’s Tech Team helps entrepreneurs bridge the gap between technology development and commercialization. The Michigan Emerging Technologies Fund (MI-ETF), managed by MI-SBTDC in partnership with MEDC, provides commercialization funding to Michigan SBIR/STTR recipients.
Although this is being proven true in Michigan, the last big economic crisis had a different outcome. I wanted to make something productive out of this pandemic,” Welch said. The full interactive data set can be found atOpportunity Insights Economic Tracker. For handmade gifts, stop by the Holiday Handmade Marketand check out more than 40 local vendors! You can also always support local farmers and artisans at the Flint Farmers’ Market.
You can find extraordinary gifts and Michigan-themed apparel and merchandise. Downtown Kalamazoohas a wide range of stores guaranteed to help you check off your holiday shopping list. Find special gift wrap, cards, and stationary at Petals and Postings.Warm-up with a cup of tea at Tudor House Tea between your shop-hopping. Whether you are considering starting or expanding a business in or through Michigan, the Michigan Department of Transportation can help answer your transportation related questions. Contact your MEDC Business Development Manager for personalized support and to get connected to additional resources.
Visit Benchmarks Northwest, a collaborative site designed to provide access to relevant, timely data to communities, the public, and stakeholders in Northwest Michigan. The Michigan Small Business Development Center provides consulting, training, and research to assist small businesses to launch, grow, transition, and innovate. In Michigan, about 30% of these pandemic-born businesses are “high propensity” meaning they will likely employ people. For Shaun Manning and Truly Render, they discovered the pandemic shifted their perspective on what they wanted from their professional lives. The Ann Arbor couple, who stoked a backburner dream to open a bookstore, left their university jobs and opened Booksweet in August 2021.