On Monday, Michigan Governor Gretchen Whitmer proclaimed May 1-7 as Small Business Week in Michigan, celebrating the resiliency and contributions of small businesses and entrepreneurs.
"Happy Small Business Week! Small businesses are anchors of our communities—they create jobs, build more vibrant cities and towns, and generate prosperity for Michiganders in every region of our great state," said Whitmer. "Michigan’s small businesses are tough. They have been resilient and strong over the last couple of years and we should come together to celebrate them and their invaluable contributions to our state by shopping local not only this week, but every week. I will work with anyone to ensure that small businesses have the resources they need to succeed. Right now, our unemployment rate is 4.4% and we’ve added 174,000 year over year.
Let’s keep working together to grow Michigan’s economy, create more good-paying jobs, and invest in small businesses in every county."
According to the U.S. Small Business Administration, small businesses comprise more than 98 percent of Michigan businesses and employ half of Michigan workers. For every $100 spent at a local business, roughly $68 stays in the local economy, allowing business and job growth.
In addition, according to the Michigan Retailers Association, one in five Michigan jobs are in the retail industry. In 2020, Michigan residents sent $23.7 billion to out-of-state retailers. If only one in 10 out-of-state purchases were switched to local stores, Michigan would gain $1.9 billion in increased economic activity, creating 14,000 new jobs.
