Great Lakes Wire

Brian Calley and Kelli Saunders from the Small Business Association of Michigan (SBAM) discussed several economic topics relevant to Michigan’s small businesses in the latest episode of The Small Business Briefing. The conversation included the impact of tourism on the state’s economy, budget challenges, federal tax changes, and major business developments.

The hosts examined how tourism contributes to state and local tax revenue, highlighting the important role small businesses play in this sector. They also addressed concerns about declining projected revenues for Michigan’s state budget and analyzed how recent changes to the federal tax code could affect Michigan’s finances. The discussion included potential risks if Michigan were to decouple its tax code from federal guidelines.

Calley and Saunders reviewed the Federal Reserve’s decision to keep interest rates higher, providing analysis on inflation, jobs data, and gross domestic product trends. The acquisition of Steelcase by HNI Corporation was covered as a significant business development affecting the region.

Other topics included an analysis of incentives related to the Sandis/Genesee County megasite deal and advocacy for increased investment in locally grown small businesses. There was also a discussion about a petition regarding a graduated income tax in Michigan. The briefing concluded with a review of key economic indicators such as inflation rates, wage growth, unemployment figures, and labor force participation.

“Join Brian Calley and Kelli Saunders from the Small Business Association of Michigan as they discuss the latest economic news impacting Michigan’s small businesses. This episode covers the economic impact of tourism, state budget challenges, the effects of federal tax changes, the Federal Reserve’s interest rate decisions, major business developments like the Steelcase acquisition, and the value of investing in homegrown businesses. Stay informed with data-driven insights and analysis on the issues shaping Michigan’s business landscape.”