Gov. Whitmer Proclaims This Week ‘Michigan Small Business Week’September 23, 2020
In Michigan, small businesses comprise over 98% of Michigan businesses and employ half of Michigan workers. Additionally, for every $100 spent at a local business, roughly $68 stays in the local economy, allowing both business and job growth.
Throughout the COVID-19 pandemic, Gov. Whitmer and the Michigan Economic Development Corp. (MEDC) have worked together to leverage federal CARES Act funding to provide economic support to entrepreneurs, workers, and communities in all 83 counties through the Michigan Small Business Restart Grant program ($100 million) and Michigan Agricultural Safety Grant program ($15 million). As part of the Michigan Small Business Restart Grant, the state has ensured that at least 30% of these funds will support women-, minority-, or veteran-owned businesses around the state.
Since March, MEDC launched 19 COVID-19 response programs, that are anticipated to support more than 10,000 businesses throughout the state by the end of the year, while retaining 21,000 jobs. Additionally, 42% of support has gone to businesses in historically disadvantaged communities. Learn more at michiganbusiness.org/covid19response.