Great Lakes Wire

The state’s economy continues to prosper, and this week Gov. Gretchen Whitmer announced that state data shows small businesses have also benefited from the state’s strong economy.

“Small businesses form the backbone of Michigan’s economy and are the anchors of communities across the state,” Whitmer said in a press release from her office this week. “Through tough times, they’ve shown grit and innovation to continue getting things done for their customers and employees. Recent data shows that entrepreneurs are fired up, starting tens of thousands of businesses and creating nearly 170,000 jobs. While the numbers are encouraging, we must build on this momentum by making investments to retain and recruit more workers, expand operations, and attract additional investment.”

“The entrepreneurial spirit is thriving in Michigan,” J.D. Collins, CEO of Michigan Small Business Development Center, told the Great Lakes Wire this week. “Our consultants are experiencing a record number of start-up ventures and businesses in generational transition. We need the continued support of programs such as the MI New Economy Plan to ensure that Michigan is the best place to start and grow a business.”

During the first three quarters of 2021, data from the Michigan Bureau of Labor Market Information showed that small businesses added approximately 170,000 jobs, accounting for the biggest job growth in small business in 23 years; the release said.

“While these numbers are indicative of a strong comeback, our work of supporting small businesses through talent programs, employer resources, and the governor’s MI New Economy plan continues to be critical to Michigan’s long-term economic success,” Susan Corbin, director of the Michigan Department of Labor and Economic Opportunity, said in the release.

The governor’s office reported that roughly 150,000 new small business applications were filed with the state in 2021, an increase of 59% compared to 2019.

“No business is small to those who are putting it all on the line, and so we remain focused on creating pathways and opportunities for our entrepreneurs to realize their vision,” Quentin L. Messer Jr., CEO of the Michigan Economic Development Corporation, said in the release. “The strength of our economy is directly tied to the success of our small businesses and through the MI New Economy plan we will continue our commitment to efforts to ensure these ventures can thrive here in Michigan.”