Michigan marks Small Business Week as startup growth booms

National Small Business Week is underway as entrepreneurship continues to surge in Michigan.

The Great Lakes State is home to almost 950-thousand small businesses, accounting for almost all businesses in the state. Nationally, more than 36-million small businesses employ nearly half the workforce, with many launching at a lower cost thanks to digital tools.

Alison Todak with the Michigan Economic Development Corporation says there’s never been a better time to start your business.

Todak says everything from website builders to payment platforms and artificial intelligence tools are making it faster and cheaper to launch a business, setting the stage for competition.

State officials say Michigan’s expanding network of funding and mentorship is helping more founders grow, although challenges like inflation and access to capital remain. Even so, Todak says Michigan offers strong support for entrepreneurs looking to start and grow a business.