Main Local Economy Information in Michigan
Michigan's economy is historically centered around the automotive industry, but it has diversified into advanced manufacturing, agriculture, and information technology.
Your Michigan and Local Small Business Funding Guide
Michigan provides various economic development programs, including job creation tax credits, property tax abatements, and startup accelerators focused on manufacturing and technology.
Small Businesses in Michigan
Small businesses are crucial to Michigan's economic health, especially in manufacturing, technology, and the service sectors. The state offers substantial support to help these businesses grow and thrive.
Documents Needed to Get a Small Business Loan in Michigan
- Business plan
- Financial records (profit and loss statements, balance sheets)
- Tax returns (personal and business)
- Proof of business registration and licensing
- Collateral details, if applicable
Michigan Department of Commerce: Key Functions and Contact Information
Website URL: Michigan Economic Development Corporation
Phone: [888-522-0103]
Address: 300 North Washington Square, Lansing, MI 48913
Local Resources in Michigan
Michigan supports its small businesses with the Michigan Small Business Development Center, providing free consulting, business education, and market research.
How to be Successful with Business Funding in Michigan
To successfully secure funding in Michigan, businesses need to engage with local economic initiatives and take advantage of state-offered business support services.
SBA Resources in Michigan
The SBA offers loan programs, business counseling, and training workshops tailored to the needs of Michigan small businesses, particularly in areas of innovation and manufacturing.