LANSING, Mich. — Gov. Gretchen Whitmer has announced record growth among Michigan's small businesses.
The governor’s office says businesses with 50 employees or fewer added nearly 170,000 jobs in the first three quarters of 2021. We’re told it’s the fastest growth rate for small businesses in the last 23 years.
A boom in entrepreneurship also occurred in 2021 with 150,000 new applications filed to launch new small businesses, a 59% increase over 2019, the state tells us.
“Small businesses form the backbone of Michigan’s economy and are the anchors of communities across the state. Through tough times, they’ve shown grit and innovation to continue getting things done for their customers and employees,” says Governor Whitmer. “While the numbers are encouraging, we must build on this momentum by making investments to retain and recruit more workers, expand operations, and attract additional investment.”
The state of Michigan says there are more than 900,000 small businesses in Michigan employing 48.3% of the state’s workers.
“Our consultants are experiencing a record number of start-up ventures and businesses in generational transition,” says Michigan Small Business Development Center CEO J.D. Collins. “We need the continued support of programs such as the MI New Economy Plan to ensure that Michigan is the best place to start and grow a business.”