By Mark S. Lee, Contributing Columnist
The public had the opportunity to celebrate Mayor Sheffield last week as part of her public inauguration, followed by the Mayor’s Ball attended by city, community leaders, and residents.
And as Detroit enters 2026 with a fresh chapter of leadership and possibility. With Mary Sheffield sworn in as the city’s 76th mayor — and the first woman to ever hold that office — Detroit’s business community is optimistic, eager, and thoughtful about what it wants to see from this new administration.
Sheffield’s historic election wasn’t just symbolic; it reflected a strong mandate from Detroiters who want inclusive growth, more equitable opportunity, and a city government that works with business to move Detroit forward.
Detroit’s business landscape has come a long way, built on the resilience of entrepreneurs, legacy employers, and neighborhood innovators.
Yet business leaders know that momentum doesn’t happen by accident. What they want now is predictability, partnership, and strategic policy that unlocks the city’s full economic potential across 139 square miles, ranging from downtown to the far reaches of every corner of this legendary city.
What are key priorities for the business community?
A Business Climate That Works for Everyone
Generally, at the top of every CEO’s and small business owner’s list is a more efficient, modern, and welcoming business climate.
For years, Detroit’s entrepreneurs have voiced concerns about permitting backlogs, regulatory friction, and difficulty navigating bureaucratic processes that can slow investment and expansion.
That’s why business leaders believe streamlining regulations and clearing obstacles to growth — not as a one-off reform but as a cultural shift toward streamlined government– is critical. This means digital permitting, clearer timelines, and a consistent regulatory approach so businesses can plan with confidence.
Expanding Access-to-Capital Opportunities
For many Detroit entrepreneurs — particularly small business owners, minority-owned firms, and neighborhood startups — the biggest barrier isn’t vision or work ethic.
It’s capital.
Access to loans, lines of credit, and investment capital remains uneven, and too many promising businesses are stalled because they can’t secure the financing needed to stabilize or scale.
The entrepreneurial business community is looking for a coordinated approach that brings banks, community development financial institutions, foundations, and private investors to the table.
The goal is simple: make capital more accessible, affordable, and transparent. That means expanding micro-loan programs, strengthening partnerships with local lenders, improving technical assistance so owners are “loan-ready,” and ensuring city procurement opens doors for small firms to build capacity. When capital flows into neighborhoods — not just downtown — entrepreneurs can hire, innovate, and create wealth that stays in Detroit.
Workforce Development Linked to Opportunity
Detroit’s growth story will rise or fall on the strength of its workforce. Investments into advanced manufacturing, mobility technology, health care, and the creative economy are only as good as the talent available to fill those jobs.
The business community is seeking a focus on workforce development initiatives that align residents’ skills with real, good-paying jobs. This includes stronger partnerships between schools, community colleges, workforce training programs, and employers, ensuring that Detroiters can access the ladders of opportunity being built in their own city.
Consistency and Predictability in Economic Policy
Detroit business leaders are unified in one clear message: predictability matters. In a competitive global economy, companies make location decisions based on long-term certainty — in tax policy, incentive structures, and economic development frameworks.
Businesses don’t like uncertainty, but stability and predictability. Predictability builds investor confidence and encourages both local entrepreneurs and global corporations to put down roots here.
Strategic Infrastructure Investment
Strong infrastructure is the foundation of a thriving economy. Business owners understand that progress isn’t just about gleaming towers downtown; it’s about transportation, digital access, reliable utilities, and vibrant neighborhoods citywide.
Investments that improve transit options, bridge digital divides, and enhance neighborhood connectivity aren’t amenities — they are economic catalysts that help talent and customers reach jobs, offices, and shops. The private sector and entrepreneurial communities are curious to see how the administration prioritizes this type of inclusive infrastructure development.
Leveraging Neighborhood Innovation
The mayor comes to office with a well-documented history of community engagement and neighborhood investment initiatives. Her decades of public service in Detroit show a deep commitment to equity and community voice. The business community wants to see the same localized, boots-on-the-ground approach leveraged to support neighborhood businesses and innovation hubs across Detroit’s many districts. They want policies that don’t just spotlight downtown, but that amplify economic activity and equity throughout the city.
Collaboration
Perhaps the most important thing Detroit’s business community wants is a partnership built on listening and mutual respect. Business leaders are deeply committed to Detroit’s success.
Businesses, irrespective of size, have invested capital, time, and talent in the city and having a seat at the table — real dialogue that brings business perspectives into strategy discussions shaping the future workforce, fiscal plans, and infrastructure investments– is crucial to fostering trust and engagement and ultimately, more business investment.
The mayor’s early actions — from community engagement events to broad leadership appointments — signal that she’s ready to govern with collaboration and ambition. The business community is ready, too.
Together, there’s an opportunity not just to grow Detroit’s economy, but to ensure that prosperity touches every block, every family, and every entrepreneur in this great city.
If you have story ideas, or questions, you can email Lee at mark@leegroupinnovation.com or visit leegroupinnovation.com.
