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Michigan Small Business Briefing: Population, Workforce, and Cybersecurity Insights
Michigan’s small business community faces evolving challenges, from demographic shifts to rising cybersecurity threats. In the latest Small Business Briefing, Brian Calley and Sarah Miller explore the state’s population trends, noting a natural decrease due to more deaths than births, and highlight the growing importance of domestic migration and international immigration for workforce sustainability.
The discussion turns to workforce participation, with retirements driving a steady decline and complicating job market dynamics. This long-term challenge requires strategic planning and adaptation from business leaders.
A special segment features Governor Snyder, who discusses SensCy – a cybersecurity platform designed to help small businesses assess and improve their cyber health. Snyder emphasizes practical steps such as awareness training, multi-factor authentication, and regular software updates, noting that most breaches involve human error. He also explains how SensCy’s tools, including vulnerability and dark web scanning, can provide ongoing protection and peace of mind.
The briefing concludes with an update on inflation, consumer price index trends, and their impact on real wage growth. Rising fuel and commodity prices are affecting both headline and core inflation, with implications for purchasing power and business costs.
For actionable insights and strategies, watch the full video linked below.
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