By Governor Gretchen Whitmer
August is Black Business Month in Michigan, a time when we celebrate Black businesses and honor all they do to enrich our neighborhoods, communities, and state. This month, I am working hard to support Black small business owners and help more people ‘make it’ in Michigan.
To a business owner, there is no such thing as a “small” business. Entrepreneurs put in countless early mornings and late nights, choosing Michigan to chase their dreams, raise their families, and make a difference. But small businesses face numerous challenges from high startup costs to burdensome red tape. That’s why my administration is working hard to support businesses with the resources they need to succeed.
We set and exceeded targets in state contracting with previously disadvantaged businesses. Our Small Business Venture Capital program has awarded more than $40 million to connect new tech companies with capital. We launched the MI Economic Opportunity Fund, a $10 million microloan program to help women and entrepreneurs of color get their small businesses off the ground. The Michigan Economic Development Corporation’s 27 Small Business Support Hubs help entrepreneurs navigate Michigan’s business ecosystem.
We are cutting red tape so entrepreneurs can get more done and chase their next big idea. Our innovation fund and R&D tax credit are lowering the cost of entrepreneurship and creating thousands of good-paying Michigan-based jobs. Just last week, I signed bills cutting red tape for small distillers and mixed spirit manufacturers, allowing them to share costs like rent, equipment, utilities, and space. I’m working with Michigan’s Department of Licensing and Regulatory Affairs (LARA) to cut red tape and refund fees and called on the legislature to work with me to put LARA’s recommendations into state law.
We’re seeing results from our work to make Michigan a better place to do business. Neighborhoods in Detroit are buzzing with new ideas and startups. Organizations like Black Tech Saturdays are helping Black entrepreneurs and innovators get their start. For the third year in a row, CNBC ranked Michigan as a top 10 state for business because to our growing economy, quality of life, infrastructure, and low cost of business.
While I’m proud of the progress we’ve made, there is so much more to do. Michigan can and should be a place where no matter your dream, your idea, or your business—whether you’re a mom and pop restaurant or a high-tech startup—you can succeed. This Black Business Month, I’ll keep working to make that Michigan a reality.
