Detroit Future City released a report in May that examined the challenges and goals for small and micro-sized businesses in the Detroit region. The report said 37 percent of respondents’ businesses were one to three years old. It also highlighted top challenges local small businesses face, including access to capital and navigating the cost of capital. 

Another report recently released was the 2024 Entrepreneurship Score Card from the Small Business Association of Michigan. Key findings from the report show that while there was an increase in small business formation and technological employment, the state grapples with declining labor force participation and widening income disparities with the national average. 

One Detroit’s Will Glover talks with Tech Town President and CEO Ned Staebler about the health of the local small business economy.  

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