Detroit City Wire

During National Small Business Week, the achievements of small businesses across the United States, including those in Michigan, are acknowledged. The week from May 4th to May 10th, 2025, highlights the resilience and dedication of small business owners and entrepreneurs.

Michigan is home to 911,914 small businesses, which represent 99.6% of all businesses in the state. These enterprises employ 1.9 million individuals, accounting for 47.9% of Michigan's workforce. In 2020, banks provided $3.2 billion in loans to Michigan businesses with less than $1 million in revenue. Small businesses play a crucial role in the state's economy by contributing significantly to job creation and growth.

Since its inception in 1963 by the U.S. Small Business Administration (SBA), National Small Business Week has recognized the impact of entrepreneurs and small businesses. This year's theme is “Empowering Business Owners for the Future,” emphasizing the entrepreneurial spirit driving the nation.

The SBA is partnering with SCORE to host a free virtual summit on May 6-7. This event includes educational workshops, access to federal resources, and networking opportunities tailored for business owners at various stages of their ventures.

National Small Business Week also encourages support for local businesses and promotes policies that aid them. SBAM President & CEO Brian Calley stated, “Small businesses are vested members of our communities and the largest job creators in our state. We cannot take small businesses for granted.”

In recent celebrations, 90 small businesses were honored at the Michigan Celebrates Small Business (MCSB) gala for their contributions to economic growth and community involvement. The event highlighted the remarkable resilience and innovation among Michigan's small business owners.

SBAM plays an essential role in advocating for small businesses by providing resources through initiatives like the Michigan Entrepreneurship Score Card. This annual report assesses Michigan’s economic strength with a focus on entrepreneurship; more details can be found on their website.