small business

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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Investigative
4:20 pm
Wed April 27, 2011

Some legislators voting to eliminate their own business taxes

Lester Graham Michigan Radio

The Michigan legislature and Governor Rick Snyder are considering a new tax structure for the state.  It would cut the state budget and shift some of the tax burden from businesses to individuals.  The Governor has said up to two-thirds of Michigan’s businesses might not have to file a state tax return at all.  Reporters Lester Graham and Bridget Bodnar with Michigan Watch learned that means some legislators who own businesses could be voting to cut their own taxes.

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Economy
2:16 pm
Fri April 8, 2011

Michigan small businesses face obstacles for expansion

Some Michigan businesses find it difficult to get credit for business expansion
mconnors Morgue File

Michigan businesses may have more trouble accessing credit to grow their companies. But many don’t know about the resources available to help them. 

A new study from Michigan State University found that small businesses and start ups in the state have trouble getting loans to expand because of stricter lending practices.

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Economy
4:45 pm
Fri March 11, 2011

Snyder says agriculture key to small business growth

Governor Snyder says it's important to process the commodities made in Michigan.
Helen Hanley creative commons

Governor Rick Snyder says agriculture is a key part of his strategy to focus economic development efforts on small businesses.

The governor spoke today to the Future Farmers of America state convention. He says there’s lots of room to grow small businesses processing farm products in rural areas of the state.

"There’s an opportunity there to do more economic development in our smaller towns and our villages, and one of those connections is if you look at it, we’re producing all these great commodity products, and if we can do more and more to say let’s continue the processing of these products right where they are being produced, that’s an opportunity to create jobs in these smaller communities. "

At the same time, Snyder says he wants to rely less on tax breaks and other industry-specific incentives to create jobs.

Michigan Economy
5:26 pm
Tue November 16, 2010

Michigan celebrates global entrepreneurship week

unleashingideas.org

In west Michigan several organizations are collaborating on more than a dozen events to foster the entrepreneurial spirit.

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