The Michigan Department of Treasury is administering a $409 million business grant relief program designed to help certain Michigan businesses that have experienced a financial hardship due to the COVID-19 public health emergency. Now more than ever, small businesses in Pure Michigan need your support. By using these resources to shop, eat and stay local, you can help Michigan workers, businesses and communities thrive this season while finding everything you need. This trend of rate moderation by Blue Cross continued even during the uncertainty of the pandemic, as small businesses in Michigan and across the country faced unprecedented decisions. Blue Cross continued moderate rate increases on health care premiums for small group customers during 2021, keeping statewide average rate increases below 2%.
Investment-based crowdfunding provides an innovative financial tool to support the creation, retention, and growth of businesses on main street. Governor Whitmer has proposed the Michigan Mainstreet Initiative which has three programs to provide capital and services support to locally-owned Michigan Small Businesses Near Me , the lifeblood of Michigan’s communities. In its first year, OFME has built dynamic public-private partnerships that support industry growth, as well as safer, more equitable and environmentally-sound transportation for all Michigan residents.
This learning module will help small businesses to evaluate their financials, understand where they are today, and recognize what they need to do to get healthier tomorrow. Deploy federal resources to boost early-stage, pre-seed, seed risk capital along with support services to boost high tech, high growth entrepreneurship. And the Birmingham Shopping District plans to have events Saturday for people of all ages, with free parking all day, a Santa walk, free hot chocolate, carriage rides and a scavenger hunt.
Find government-backed loans and other financing programs to start or grow a business inMichigan. The company employs people who are a part of the Dearborn-based nonprofit called Services To Enhance Potential, which connects individuals with disabilities with job opportunities and support. You can purchase pre-made gift bundles online for individuals, employees and more for the holidays at Bundled, which will host an event next week so you can make your own bundles.
In Michigan, as of August 09, 2020, the number of small businesses open decreased by 24.5%, compared to January 2020. During the beginning of the pandemic, small businesses open decreased as low as 45%, compared to January 2020. Throughout Michigan’s regions, various small businesses still remain closed due to the uncertainty of the virus, such as movie theaters and gyms. Explore small business entrepreneur success stories to see community development in action. Small businesses with fewer than 500 employees and annual revenues equal to or less than $25,000,000 are eligible to be ‘certified small’ by the Small Business Association of Michigan. This certification can help set your business apart in the marketplace and add credibility to your name and/or brand.
Money Matters focuses on economic literacy, mental health and investing. Each of Detroit’s seven districts will host a Small Business Saturday event, where you can get free drinks and pastries, pick up breakfast and do some shopping. The DEGC also gave out holiday corridor activation grants for small businesses who are working together Saturday to decorate during the season. “”We understand that businesses are still trying to recover from COVID-19,”” said Lashawna Manigault, director of small business attraction and retention at the DEGC. Match on Main is a reimbursement grant program that serves as a tool to support new or expanding place-based businesses by providing up to $25,000 in funding to support an eligible small business. Our Owner2Owner program is a network designed exclusively for small business owners across the state of Michigan.
Many individuals delayed care in 2020 and 2021 due to surges of COVID-19 in their communities. Now, we’re beginning to see signs Michigan and the nation are rounding the corner of the pandemic. People are scheduling elective procedures again and putting doctor’s visits back on their calendars.
The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll. In Traverse City, TentCraft, Inc. was well-versed in creating custom prints and tents for event booths and sports arenas but had never manufactured products for the healthcare or medical industry. Heading into March 2020, Bellaire-based outdoor tourism business, Paddles & Peddles, was in the best financial position it had ever experienced, with revenues up 40% year-over-year. To find additional local businesses and restaurants that would benefit from your support, click here. Our vibrant downtownsare filled with local shops specializing in décor, fashion, pet toys, hardware and more.
The Michigan SBDC enhances Michigan’s economic wellbeing by providing consulting, training, and market research or new ventures, existing small businesses, and advanced technology companies. Small businesses are defined by the Small Business Administration threshold. Size standards vary between industry but are generally based on the number of employees or the amount of annual receipts the business has. According to Opportunity Insight, they measured small business revenue as the sum of all credits minus debits . MEDC partners with several different service providers and supports resources to launch, nurture and grow businesses in the state. Additionally, the Michigan Defense Center is now offering aProposal Writing Services grant programto assist Michigan companies in writing a bid response to a Department of Defense or Department of Homeland Security contract opportunity.