©2016 Michigan Economic Development Corporation

Michigan Ranked #5 Small Business-Friendly State

Thursday, October 13, 2005

Michael Shore, MEDC
(517) 335-4590

Up from #6 on Index of Tax Burden, Regulatory Climate

Governor Jennifer M. Granholm announced today that Michigan improved its ranking to fifth place on the Small Business Survival Index 2005 compiled by the Washington, D.C.-based Small Business & Entrepreneurship Council, up from sixth last year.

"Growing Michigan's small businesses is a high priority in our plan to strengthen and diversify the state's economy," Granholm said. "Of the 6,118 personal business visits made by Michigan Economic Development Corporation account managers in 2004, 70 percent of them were with companies with fewer than 100 employees. It is gratifying that our efforts to support a strong and vibrant small business sector have won this national recognition."

The Governor noted that small Michigan research and technology businesses have been recipients of commercialization funding through the Michigan Life Sciences Corridor and Technology Tri-Corridor initiatives over the past five years. In addition, she said, the state's network of 13 PTACs, or Procurement Technical Assistance Centers, serves to help smaller companies gain access to state and federal contracting opportunities. Michigan is one of only five states with a Small Business Technology Development Center network accredited by the Association of Small Business Development Centers to provide technology support to small and micro businesses. The Governor added that Michigan's 12 regional SBTDCs last year provided services to 10,276 small businesses, 15 percent of them technology-based.

The MEDC contributed $525,000 to the operations of the PTACs last year and $410,000 to the SBTDC network. Further information on both programs is featured on the MEDC's Web site at www.michigan.org

The SBE Council's annual ranking analyzes 26 major government-imposed or government-related costs affecting small businesses and entrepreneurs. This year's index is their 10th annual survey and has been revised and expanded to include four measures of health care regulation. The top five entrepreneur-friendly states under the Small Business Survival Index are South Dakota, Nevada, Wyoming, Washington and Michigan. Details of the rankings are available at www.sbecouncil.org

The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.