The Great Lakes Wire
May 2, 2025
During National Small Business Week, the contributions of small businesses nationwide, including Michigan, are recognized. From May 4th to May 10th, 2025, the focus is on the resilience, innovation, and dedication of small business owners and entrepreneurs.
Michigan hosts 911,914 small businesses, which account for 99.6% of all businesses in the state. These businesses employ 1.9 million people, making up 47.9% of Michigan’s workforce. Additionally, in 2020, banks issued $3.2 billion in loans to Michigan businesses with less than $1 million in revenue. Small businesses play a vital role in the state’s economy by significantly contributing to job creation and growth.
Since 1963, the U.S. Small Business Administration (SBA) has recognized the influence of entrepreneurs and small businesses through National Small Business Week. This year’s theme, “Empowering Business Owners for the Future,” underscores the entrepreneurial spirit that propels the nation.
The SBA, in collaboration with SCORE, will host a free virtual summit on May 6-7. This online event offers educational workshops, access to federal resources, and networking opportunities. It addresses the needs of business owners at various stages, from starting out to expanding.
National Small Business Week encourages support for local businesses and the advocacy of supportive policies. According to SBAM President & CEO Brian Calley, “Small businesses are vested members of our communities and the largest job creators in our state. We cannot take small businesses for granted.”
Recently, 90 small businesses were celebrated at the Michigan Celebrates Small Business (MCSB) gala for their role in economic growth, job creation, and community involvement. The event acknowledged the remarkable resilience and innovation of Michigan’s small business owners.
SBAM plays a crucial role in advocating for small businesses and offers valuable resources through initiatives like the Michigan Entrepreneurship Score Card. This annual report evaluates Michigan’s economic strength with an emphasis on entrepreneurship, and further details are available on their website.