Gov. Whitmer Announces New Data Showing Record Small Business Growth
May 18, 2022Michigan Executive Office of the Governor
May 16, 2022
LANSING — Today, Governor Gretchen Whitmer highlighted new data showing Michigan’s economic jumpstart continues as small businesses in the state are experiencing tremendous growth and expansion. In the first three quarters of 2021 alone, small businesses with fewer than 50 employees created almost 170,000 jobs, the fastest start to small business job growth in 23 years, according to the Michigan Bureau of Labor Market Information. The state also saw an explosion of entrepreneurs and business owners beginning new ventures in 2021, with 150,000 new small business applications filed to start businesses, which is 59% more than in 2019.
Michigan is home to 902,000 small businesses, with 1.9 million small business employees, representing 48.3% of Michigan workers. And 99.6% of Michigan businesses are defined as small businesses with fewer than 500 employees.
View the entire press release.
Further, explore the Detroit Regional Chamber’s 2022 State of Region report below.