small business

Business
3:37 pm
Thu April 26, 2012

Forget Silicon Valley: Can college students make Michigan a startup hub?

TechArb is a business incubator that encourages University of Michigan students to develop their business ideas.
Univ. of Mich. YouTube

What do you get when you put dozens of college students in the basement of a parking garage with some office furniture, a WiFi connection and free coffee?

Well, it turns out you’ll end up with some pretty innovative ideas - as long as those students all happen to have diverse interests and a passion for entrepreneurship.

That’s the idea behind TechArb, a University of Michigan program that aims to provide student entrepreneurs with the mentoring, workspace and, in a few cases, funding needed to start their own businesses.

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Sports Commentary
7:00 am
Fri April 6, 2012

Saying goodbye to a tradition, Ann Arbor's Parthenon Restaurant closes

The beloved gyro sandwich.
George Ruiz Flickr

Ann Arbor’s Parthenon Restaurant closed last week after almost 40 years at the corner of Main and Liberty. 

For me, it marked more than the passing of a favorite spot, but the end of a time-honored ritual for the guys. 

We filed in, and walked to our favorite table in the back.

A little warmer, and we’d sit outside, but it was still March, so whatya gonna do?

The owners and waiters nodded. They’ve seen us more than a hundred times.

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Generation Y
9:30 am
Wed April 4, 2012

Happy at home: Generation Y looks for success on its own terms

Sanford Bledsoe and Anna Foster at the (espresso) bar in Ann Arbor, the cafe they co-own
Jonathan Alexander Facebook

Members of Generation Y---those Americans born in the 1980s and 1990s who are currently in college or cutting their teeth in the working world---have received their share of scrutiny in recent years. But where their parents might be discussed in terms of day-glo paint and ideological revolution, Gen Y-ers tends to garner attention for their inseparable relationship with technology and their bad timing, starting their adult lives in America's worst economic climate since the Great Depression.

Going Nowhere?

Last month, the New York Times ran an op-ed piece co-written by economist Todd Buchholz and his daughter Victoria, a student at Cambridge University. It bore the headline “The Go-Nowhere Generation” and in it the Buchholzs argued that unlike previous generations, Generation Y has "become risk-averse and sedentary," unwilling to leave home in search of "sunnier economic climes."

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Business
4:29 pm
Sun January 29, 2012

Event helps entrepreneurs network

More and more people have been attending an annual event that helps entrepreneurs turn their ideas into realities.

It’s called The Annual Collaboration for Entrepreneurship and it happens Tuesday, January 31. It’s hosted by the economic development organization Ann Arbor Spark.

Skip Simms is Ann Arbor Spark’s senior vice president. He says the event helps people with small operations engage in some good old fashioned networking, which can help them grow their businesses. Simms says in a few years’ time, these small start-ups could grow into the next DOW, Kellogg, or GM, and hire thousands of employees in Michigan.

About 1,000 people went last year and the space outgrew its original location at Washtenaw Community College. It now takes place at Skyline High School in Ann Arbor. Tickets are $20 at the door.

Economy
2:57 pm
Wed January 25, 2012

Veterans business conference set for Detroit

DETROIT (AP) - A Veterans Affairs conference this summer in Detroit is expected to bring $3 million of spending to the area.

The National Veterans Small Business Conference will be held June 25-29 at Cobo Center. Organizers say more than 6,000 veterans, business owners and federal employees are expected to attend.

Nearly 5,000 people attended the conference last year in New Orleans.

Mayor Dave Bing and Veterans Affairs Chief of Staff John Gingrich announced the conference  Wednesday. Gingrich says the conference and a hiring fair "will provide veterans with on-the-spot job opportunities and interviews" in the public and private sectors.

A partnership of federal agencies and private industry attracted more than 4,100 veterans and resulted in over 2,600 on-the-spot interviews and more than 500 tentative job offers earlier this month in Washington D.C.

Arts/Culture
10:21 am
Fri January 6, 2012

Reimagining what work can be

Many people view Michigan as ground zero when it comes to job loss and unemployment. Yet despite the tough economy, some people are quitting their jobs in an effort to pursue their creative passions, which are often unpaid. 

From fast food to felt toys

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Education
12:12 pm
Tue January 3, 2012

UM Law opens clinic to help student entrepreneurs

U of M Law's Entrepreneurship Clinic will assist students with their business ventures.
screen grab

Beginning this month, law students at the University of Michgian will be able to sign up for a new Entrepreneurship Clinic. The clinic will focus on helping students do things like set up businesses, and protect intellectual property.

Law School Professor Dana Thompson will run the Entrepreneurship Clinic.

She said it makes sense to help the growing number of entrepreneurs at the university with their legal issues, such as employment law issues, developing contracts for their businesses, leases, and financing.

Thompson said the clinic will give law students a great opportunity to connect with business, engineering or other students, "and begin to make those connections with future clients or colleagues, and to do it while you're in school and everybody's kind of in that learning stage is a great opportunity for them."

Ten students will be part of the clinic's inaugural class, but the plan is to more than double the capacity.

The program attracted more than five times the number of applicants as there were spots available. Thompson says the interest reflects the fact that the employment landscape is changing, with a shift toward entrepreneurship.

Politics
4:26 pm
Mon November 14, 2011

Dems call for hiring tax break, credit help for small businesses

Democrats in Lansing have outlined a package to help small businesses grow and hire unemployed people.

The plan includes taking a portion of the money that’s in a state trust fund and investing it in local banks and credit unions to make small business loans.

State Representative Vicki Barnett said that will help small businesses having trouble getting credit from larger banks and investment funds.

“We know that a very teeny investment can have huge dividends in terms of job creation and access to capital,” said Barnett.

“There is no other state that I know of that is taking this approach to aggressive investment – doing things they already do with taxpayer money and targeting it to grow jobs in their own state,”she added. 

The Democratic package would also allow small banks and credit unions to pool their finances to invest in larger projects.

Barnett says that would make larger loans possible while allowing the institutions to share the risk.

The plan also calls for a tax credit for small businesses that hire long-term unemployed people and veterans.

Republicans shy away from job creation credits. They say the state should not single out specific businesses for tax breaks.

Your Story
2:54 pm
Fri October 28, 2011

Your Story: can grassroots small business support work?

Michelle Koles makes lunches at the Can Do Kitchen, one of the smaller organizations getting into business "incubating."
Lucy Bland

Business incubators are a trumpeted, but yet unproven way to give entrepreneurs and their projects a higher chance of success.  Foundations and governments are lining up dollars to support incubators in their communities.

Some of the larger incubators around the region were profiled by Niala Boodhoo earlier this week. But there are also more grassroots efforts springing up, incubators that seem themselves to be small enough to be supported.

Marcy Kates lives and works in Holt, Michigan. Two months ago she left her job as a program officer for the state’s AmeriCorps program and opened IncuBake, an incubator kitchen and commercial kitchen space. Kates used her savings and her credit cards to open the kitchen, inspired by being unable to find low-cost commercial space for her own catering.

“I started this project to be a job creator, " said Kates.

Even so, she intentionally stayed away from a nonprofit model, wanting more flexibility and not really wanting to fundraise. That meant using her savings and her credit card to start the business, which is now about 15 percent full but, Kates says, growing steadily.

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Changing Gears
8:59 am
Thu October 20, 2011

Small businesses a magic bullet for a down economy? (Part 4)

Dr. Mark Gamalinda owns a dental practice in Andersonville, Chicago.
Niala Boodhoo Changing Gears

Stop me if you’ve heard this one before...

"We genuinely believe small business is the backbone of America, it’s going to the key for us to be able to put a lot of folks back to work."

That’s President Obama earlier this year.

Warm feelings about small business come at all levels, and on both sides of the aisle.

Here’s Michigan’s Republican Governor Rick Synder this summer:

"Talk about the jobs you’re creating, even if it’s one job – that is the backbone of the reinvention of Michigan."

Or Chicago Mayor Rahm Emanuel last week at the SmallBizExpo:

"Nothing is more important to our econonmic expansion than the small business of Chicago and the small business of tomorrow that will be in Chicago."

It’s more than just political talk.

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Economy
2:01 pm
Tue September 20, 2011

Michigan proposal targets taxes on Internet sales

LANSING, Mich. (AP) - Michigan lawmakers are renewing a push to require more businesses selling items over the Internet to collect the state's 6 percent sales tax.

Legislation dealing with the issue was detailed Tuesday at the state Capitol.

The Michigan Retailers Association says some out-of-state, online-only retailers use legal loopholes that allow them to avoid collecting state sales tax at the point of sale. The retailers association says that gives the online retailers an unfair price advantage and hurts Michigan businesses that have storefronts and collect the sales tax.

Bills to be introduced by Republican Rep. Eileen Kowall of Oakland County's White Lake Township and Democratic Rep. Jim Ananich of Flint would move online-only retailers under the same sales tax collection laws under which brick-and-mortar businesses operate.

Environment
3:38 pm
Mon September 19, 2011

Number of Michigan farms operated by women doubles in 30 years

There are more women managing farms in Michigan these days.
Maureen Reilly Flickr

The number of women running farms in Michigan is growing, according to a report in today's Lansing State Journal:

The number of Michigan farm acres managed by female principal operators has more than doubled in 30 years, from 252,980 acres in 1978 to 552,075 acres in 2007, the most recent date available from the United States Department of Agriculture's Michigan Field Office.

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Your Story
12:08 pm
Fri September 16, 2011

If small business is key to economic growth, what about really small business?

Jeremy Peters (right) and his brother Brian Peters, two of the founders of Quite Scientific Records
courtesy of Jeremy Peters

As the election season begins, it almost seems politicians are obligated to tout small business as one way to stave off further economic collapse and bring back the American Dream for all of those whom it has left behind.

Small business overall does have a tremendous economic footprint in this country, employing half of all private sector employees, by government estimates. But small business is also a really big umbrella. The United States Small Business Association includes any firm with less than 500 employees a small business. It’s easy to see how a business with 500 employees could be critical to a town.

Then there are people like Laura Cowan. She hopes to be a small business owner, but she’s not there yet. Cowan runs a green, affordable parenting blog out of her home, and patches together paying work while she balances full-time care of her young daughter. She is what has been called a “micro-preneur.” These are people who run very small businesses, typically with only one, or at most a handful, of employees.

In developing countries, micro-enterprise has received great attention for helping move some people, especially women, out of abject poverty. In this country, that strategy has been tried, but has worked less well. One reason is because starting a small business is very high risk, and pretty low-reward. There are people who begin these types of businesses because they have no other way to support themselves, but there are also a lot of people looking to make a change in their lives and thinking starting a business might be a good idea.

It is less certain what the effects of micro-enterprises are on the economy in this country. They haven’t been studied anywhere near as much as small businesses. It’s not clear how often micro-enterprises turn into flourishing small businesses, how often they stay small, and how often they fail.

Here are portraits of three different Micro-entrepreneurs in Michigan:

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Economy
12:21 pm
Tue July 26, 2011

Michigan businesses to receive boost from new public-private program

Governor Rick Snyder is expected to announce details of a public-private grant program aimed at small to medium sized businesses.
Russ Climie Tiberius Images

UPDATE 4:30 p.m.

One hundred thirty million will be available to Michigan businesses as part of a new grant program. The money is the first of the Small Business Association’s Impact Investment Initiative. The goal is to help grow and create jobs through public-private partnerships. The InvestMichigan! fund is a partnership between the SBA, Dow Chemical Company and state funds.

Karen Mills is with the SBA. She says Michigan was the perfect place to start the program.

“Michigan has great assets. It has one of the highest engineers per capita for any state. It has a well-trained workforce, it has great universities and it has extraordinary entrepreneurs,” Mills said.

The program will distribute 1-point-5-billion-dollars to businesses nationwide throughout the next five years.

- Amelia Carpenter - Michigan Radio Newsroom

ORIGINAL POST: 12:21 p.m.

Details on a public-private grant program aimed at helping small to medium sized businesses in Michigan will be announced during a press call at 1 p.m. today.

Governor Snyder will discuss the new program along with Karen Mills of the U.S. Small Business Administration, Andrew Liveris, Chairman and CEO of Dow Chemical Company, State Treasurer Andy Dillon, and Kelly Williams of Credit Suisse's Customized Fund Investment Group.

Andrew Dodson of Booth Mid-Michigan reports that Dow Chemical's investment in the program is expected to facilitate investment from the federal and state government:

According to a source close to the information, the program's impact will be "quite substantial." Dow Chemical is expected to provide funds and help facilitate bringing federal and state funds to bear upon local markets."It's meant for businesses who need financing, but can't get loans or financing right now," the source said.InvestMichigan! is a group with a series of funds focused on growing the next generation of Michigan companies, according to its website, and is one of the partners involved in today's announcement. It's federal counterpart, ImpactAmerica, is also involved.

Amelia Carpenter in the Michigan Radio Newsroom will be on the call and will have more for us later.

Economy
6:24 am
Tue July 26, 2011

State to receive small business funds

State and federal officials are expected to announce that Michigan will be the first place eligible for loans to small businesses investing in clean energy or located in economically distressed areas.

U.S. Small Business Administration head Karen Mills, Michigan Gov. Rick Snyder, Dow Chemical Co. chief Andrew Liveris and others are scheduled to announce the impact investment program in a Tuesday afternoon conference call.

The initiative will work with private institutional investors to help identify and provide money to private equity fund managers who invest in targeted companies. Federal funds also will be offered to small businesses that get a share of the private investments.

The program is part of President Barack Obama's Start-Up American initiative aimed at spurring high-growth entrepreneurship and the creation of more jobs.

Changing Gears
4:35 pm
Tue July 12, 2011

Your Story: Highs and lows of working in the family business

Amber Turner and Jordan Ceresnie are engaged and work together
Submitted by Amber Turner

Family bonding can be a reward for working in a family business. But there is also plenty Amber Turner worries about.

The restaurant industry took a beating in the economic downturn. Although some Wall Street analysts expect restaurants to pick up soon, a lagging restaurant industry makes Turner more than a little nervous. In her family, any trouble is multiplied.

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Arts/Culture
5:07 pm
Mon July 11, 2011

Detroit's new biz accelerator focuses on creative sector

New business accelerator focuses on creative industries
Dani Davis

A unique business accelerator opens today in Detroit. 

A lot of business accelerators, generally speaking, focus on internet startups and biotech companies. But with the new Creative Ventures Acceleration Program in Detroit, the spotlight is on creative industries:

"The industrial design world, the interior design world, fashion design, music production, video production and architecture."

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Auto/Economy
4:30 pm
Fri July 1, 2011

New microlending website helps Detroit's small biz owners

Kiva Detroit helps connect small business owners in the city with potential lenders
user penywise morgueFile

Several Detroit non-profits want to help potential small business owners get some much needed capital.

They’ve launched a microlending website called Kiva Detroit, an extension of the California-based Kiva.org. Small business owners post their idea online and anyone can give a loan for as little as $25. The site went live this Wednesday.

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Environment
10:47 am
Fri June 24, 2011

Swimming Upstream: The Fish Monger's Wife (part 2)

The Petersens sell fresh whitefish filets at the Muskegon Farmer's Market.
Photo by Dustin Dwyer

Today we continue our series, Swimming Upstream. Dustin Dwyer took a road trip around the Lower Peninsula to bring us stories about fish. Yesterday we heard about the Petersens. They’re one of the few remaining non-tribal commercial fishing families in the state.

Today Dustin tells the story of the Fish Mongers Wife:


It's a grey day at the Muskegon Farmer's Market, but Amber Mae Petersen is selling the heck out of some fresh Michigan whitefish.

“We're based here in Muskegon, my husband's family has been commercial fishing here for 75 years. So we sell what we catch.”

The vacuum-sealed bags of whitefish filets, and packages of smoked whitefish are disappearing quickly. Petersen's husband Eric stands next to her, packing the fish in ice and wrapping it in old copies of The Muskegon Chronicle.

“It's the only way to do it.”

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Changing Gears
12:30 pm
Mon May 23, 2011

Feeling the bounce from the Oprah Winfrey Show

The Oprah bounce. Many small business owners have felt the boost when their product makes Oprah's Favorite Things list.
Alan Light Flickr

This week marks the last we’ll be seeing of new broadcasts of the Oprah Winfrey Show.

I’m someone who basically has grown up with the show (to be exact, the nationally syndicated show has run for 25 years).

It’s spawned the empire of all things Oprah – including her magazine and now her own cable network.

Over the years, Oprah’s singled out many products for her Favorite Things list.

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