Stateside Podcast: MI Small Business Snapshot
May 26, 2023
Article courtesy Michigan Radio
Inflation, widespread layoffs, high interest rates. It seems like there’s a lot of not-so-great economic news out there lately. But in Michigan, there seems to be a bright spot: entrepreneurship.
Small Business Association of Michigan President Brian Calley told us the number of business applications in Michigan started to grow pretty early in the pandemic—and it hasn’t really stopped since.
“And the ‘why’ is a really complicated question to ask, but we were delighted at our association to see that this heightened interest in starting new businesses has persisted.”
SBAM just published a report detailing 120 different statistical measurements of what’s happening among the state’s small businesses.
Whether you’re an entrepreneur, an investor, or a consumer, it’s something to keep an eye on in Michigan. Small businesses make up most of the state’s economy.
Today, we’re making sense of the numbers, and revisiting some of our conversations with folks experiencing the ups and downs of the pandemic economy firsthand.