2023 Entrepreneurship Score Card
Key Takeaways
Over the past two decades, Michigan has seen extended periods of decline, stagnation, recovery, and growth. Despite the inherent risks associated with starting a small business, indicators show business starts have hit record highs. Here’s what this edition shows:
- Small business is big in Michigan, and getting bigger
- More small businesses are thriving
- Small businesses are seeing increased revenues and opens
- The labor force crunch is real and will not improve soon
- Recessionary risk looms, but the outlook is still positive
- Read the full press release