Nov. 26 declared Small Business Saturday in Michigan supporting local businesses year-round

LANSING, Michigan (WLUC) – Governor Gretchen Whitmer today declared November 26th Small Business Saturday in Michigan and urged Michiganders to shop locally this Saturday and throughout the year to support Michigan’s small businesses.

“Small businesses are the backbone of our economy,” said Governor Whitmer. “Supporting local small businesses and entrepreneurs creates good paying jobs and supports more vibrant communities in every region of our state. On Small Business Saturday, let’s celebrate Michigan’s small businesses and their invaluable contribution to our communities by shopping local—and doing so through the holiday season and throughout the year. I will continue to work with anyone I can to ensure that our small businesses have the resources they need to succeed as we continue to grow Michigan’s economy and build a brighter future.

Michigan is home to 902,000 small businesses, with 1.9 million small business employees, representing 48.3 percent of the Michigan workforce. More than 99 percent of Michigan businesses are defined as small businesses with fewer than 500 employees.

According to the Michigan Bureau of Labor Market Information, a report released in May showed that in the first three quarters of 2021 alone, small businesses with fewer than 50 employees created nearly 170,000 jobs, the most for small business in 23 years. Fast start. The state also saw an explosion of entrepreneurs and business owners starting new ventures in 2021, with 150,000 new small business applications filed, a 59 percent increase over 2019.

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Since October 2020, MEDC has assisted small businesses in all 83 countries with more than $73.7 million in funding, helped start more than 560 new businesses, and helped small businesses generate more than $4.3 billion in new revenue. have helped.

According to the US Small Business Administration, small businesses comprise more than 98 percent of Michigan businesses and employ half of Michigan’s workforce. For every $100 spent at a local business, roughly $68 stays in the local economy, leading to business and job growth.

Furthermore, according to the Michigan Retailers Association, one in five Michigan jobs are in the retail industry. In 2021, Michigan residents will send $30.3 billion to out-of-state retailers. If just one in 10 out-of-state purchases, which equates to nearly $3 billion, were diverted to local stores, Michigan would see an increase of $2.2 billion in economic activity, creating 16,000 new jobs.

President and CEO of the Michigan Retailers Association, William J. “Choosing Buy Nearby strengthens communities, keeps money in Michigan and allows small businesses to thrive,” said Hallan. “When you’re looking for that perfect gift for your loved one this year, visit Main Street to help grow our local economy and support your local businesses.”

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Each year, the Michigan Economic Development Corporation launches the Support Local campaign to remind Michiganders about the importance of supporting small businesses, especially during the holidays and throughout the winter season. The Support Local landing page at michigan.org/supportlocal offers resources that help residents shop and eat locally, including links to vibrant downtowns specializing in decor, fashion, pet toys, hardware and more Wali is full of local shops. For the craft beverage lover, Michigan’s beer, wine, and spirits can be found at brick-and-mortar stores and local grocery stores throughout the state. All around Michigan, independent bookstores are brimming with page-turning stories and goodies. To fuel up, shoppers can visit one of Michigan’s coffee shops and get a bag of beans to brew at home. Or give the gift of travel, make memories at destinations across the state.

MEDC CEO Quentin L. Messer, Jr. said, “As we look at ways to create greater opportunities for all Michiganders, we look forward to supporting our small businesses, their workers and local communities in all corners of the state. committed to.” The Saturday after Thanksgiving is traditionally one of the busiest days of the holiday season, and by shopping local, we can help Michigan workers, businesses and communities thrive this season and every day.

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MEDC is committed to supporting the success of the small businesses that are the backbone of the state’s economy. Earlier this year, MEDC announced a new Small Business Services and Business Solutions team as part of its focus on supporting small businesses in Michigan. This team was created to play a key role in helping to grow existing small and micro businesses in the state while improving economic prosperity for all Michiganders through greater opportunities for small business ownership and access to capital was.

“Every day is a day to celebrate and patronize Michigan home businesses. No business is too small for the people putting it on the line, and that’s why we look forward to creating avenues and opportunities for our entrepreneurs to make their vision a reality.” We are focused on creating opportunities,” said Messer. “With our new small business team, we will continue to set the stage for Michigan’s economic growth for generations to come.”

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