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Entrepreneurship : In the News

157 Entrepreneurship Articles | Page: | Show All

Business-friendly Ferndale experiences boom in new enterprise

New businesses are flocking to Ferndale, and existing ones are expanding. This boomlet is in no small part because of the city's treatment of businesses as customers, according to Ferndale Mayor David Coulter.

Excerpt:

"Three years after Michelle Lewis opened her first  Painting with a Twist  franchise in downtown Ferndale, business was so good that she needed to double the studio's size to 5,000 square feet on West Nine Mile Road. 

Lewis' story isn't an aberration downtown, where 14 businesses have expanded into larger space during the last two years or are opening this year, according to Cristina Sheppard-Decius, executive director of theFerndale Downtown Development Authority.

In 2000, vacancy in downtown Ferndale was well over 30 percent, she said. Today, the core downtown is just 2 percent vacant, and the outskirts of the downtown are just 4 percent vacant."

More here.

Calling all tinkerers: Entries open for Maker Faire Detroit

Apply now if you want to get your invention / pet project into the hands of visitors at the next annual Maker Faire at The Henry Ford Museum, July 26-27.

Excerpt:

"We particularly encourage exhibits that are interactive and that highlight the process of making things. Here are just a few of things we'd like to see at Maker Faire Detroit:
  • Student projects
  • Robotics
  • Arduino projects
  • Raspberry Pi
  • Space projects
  • Conductive materials projects
  • Kit makers
  • Interactive art projects
  • Textile Arts and Crafts
  • Rockets and RC Toys
  • Green Tech
  • Radios, Vintage Computers and Game Systems
  • Electronics
  • Electric Vehicles
  • Puppets
  • Bicycles
  • Shelter (Tents, Domes, etc.)
  • Unusual Tools or Machines"
More here.

Southeast Michigan population, business investment on the rise

Southeast Michigan's economy is trending upward, as shown by the most recent population and business investment increases.

Excerpt:

"Southeast Michigan's population grew in 2013, while investment in Oakland County small business tripled, according to statistics released by regional leaders Monday.

Banks approved $22,719,100 in traditional loans for established small businesses last year, according to Oakland County Executive L. Brooks Patterson's office. That's more than three times the amount loaned in 2012: $7,050,195.

And the Oakland County Business Center helped 19 startups gather $39,159,531 in capital in 2013, an increase of more than 286 percent from 2012 when 12 new businesses accessed $13,669,878 in capital formation."

More here.

Detroit companies get brand exposure at SXSW festival

It's too early to say yet, but the brand exposure for Metro Detroit companies, plus the MEDC's booth at SXSW, could pay big dividends in terms of sales and attracting more young professionals to Michigan.

Excerpt:

"The crush of people, brands and bands at the  South by Southwest Festival in Austin, Texas, creates brand exposure, and this year Detroit companies, musicians, attorneys and advertising agencies were there to capitalize on the opportunity...

Joe McClure, co-owner of Detroit-based  McClure's Pickles, said he was asked by San Francisco-based Internet lodging site  Airbnb  to provide a palette, 60 cases, of its Bloody Mary mix to serve during SXSW for free....

Leslie Hornung, senior vice president of marketing, communications  and public relations for the  Michigan Economic Development Corp., said the MEDC spent about $200,000 from its business attraction campaign to have a booth on the conference floor during the technology-focused days at SXSW. 

Hornung said more than 1,000 young professionals visited the MEDC exhibit, many of whom were interested in learning about working in Detroit."

More here.

Students, recent grads invited to Live.Work.Detroit career event on March 28

The Live.Work.Detroit career event on Friday, March 28 looks to be a promising lead for students and new grads looking to pump up their job prospects. It's from 2:00-8:00 p.m.  at the Garden Theater in Detroit.

Excerpt:

"The  March 28  event is being co-hosted by D:hive and MEDC. Participating students will have the opportunity to network with a wide range of Detroit employers including Detroit Medical Center, Playworks, Quicken Loans, American Axle, and Shinola, among others. The event will include keynote speaker Marlowe Stoudamire from the Skillman Foundation, a panel discussion with some of Detroit’s young leaders from Detroit Young Professionals, Challenge Detroit and ChalkFly, networking, and a tour of some of the exciting small businesses, restaurants, museums, and affordable places to live.

Registration is required; cost is $15. The registration fee covers all activities including transportation, dinner and the tour of the city."

For more info and to register, click here.



Local breweries and meaderies get in on the next hot drink: Iced cider

After an icy cold winter, is ice cider the next magic elixir for Metro Detroit brewers and cider makers?

Excerpt:

"If there's anything most of us are tired of this winter, it's bone-chilling cold. It's enough to drive you to drink. 

Literally. Because frigid weather is just what some enterprising artisans need to make a dessert wine that has been showing up on trendy tables and menus...

...Maine,  New York,  Michigan, and  Washington  are starting to ride the ice cider wave, too. The question is not whether they have enough apples. The real test will be whether they have enough ice."

More here.

Click here for the full Michigan list, which includes Ferndale's B. Nektar Meadery, Kuhnhenn Brewing Co. in Warren, Motor City Brewing Works in Detroit, and the Northville Winery in Northville.

Inc. magazine recognizes firm that bucked downward trend in Michigan real-estate

A local title agency focused on the principle that small service is better service, and Inc. magazine took note.

Excerpt:

"Monte Reinert is in the real estate business. What's more, he's in the real estate business in Michigan, where home prices have fallen about 60 percent since 2006. Yet his company,Transnation Title Agency of Michigan, has more than doubled its workforce in the last five years, grown revenues to $13 million, and continues to poach customers from big-name competitors."

More here.

Sign up for the 2014 Michigan Social Entrepreneurship Challenge

If you're an entrepreneur geared towards forming your business to serve a good cause, take heed and register for the Michigan Social Entrepreneurship Challenge. 

Excerpt:

"The  Michigan Social Entrepreneurship Challenge  invites individuals and teams to submit plans for an emerging idea or existing venture with a sustainable solution to a clearly defined social problem in areas including, but not limited to, chronic unemployment, health and nutrition, the environment, urban revitalization, and education. Participants will compete for more than $60,000 in prizes. Competition finalists will be granted admission to Michigan Corps’ Impact Investment Fellowship, a four-month training institute to ready top social entrepreneurs for investment at and above the $50,000 level.

...Applicants will be eligible to attend online classes, neighborhood tours, and networking events to support the development of their submission before the  May 30, 2014  deadline. A statewide Social Entrepreneurship Showcase & Summit Event will take place in June to announce winners and celebrate social innovation across Michigan."

Click here for more info and to register.

Wallet Hub says Detroit is tops in nation for home-buying power & industrial variety

Detroit ranked 38th best out of America's 60 largest cities to find a job, beating out heavies like Chicago and New York. While there's plenty of room to keep powering up the job prospects, Detroit took the top spots in the categories of annual home-buying power and most industrial variety. 

Excerpt:

"More than 100 million people have moved within the past five years, according to data from the U.S. Census Bureau, and 48% of unemployed individuals have picked up their roots in search of a job over that timeframe.   This societal mobility stands to be a major asset for job seekers as the economy improves.   In fact, 2014 is expected to be a strong year for hiring, with 27% of employers planning to hire, according to the  National Association for Business Economics, and a projected 8% bump in the number of recent college graduates who land jobs, per the  National Association for Colleges and Employers."

More here.

MEDC to showcase Michigan's appeal for entrepreneurs, creatives at SxSW trade show

If you're an entrepreneur or creative, the annual SxSW festival is where it's at. The MEDC and other Michigan universities and organizations will be there in a bid to attract talent to relocate the Great Lakes State.

Excerpt:

"This is a timely and dynamic opportunity to meet and talk face-to-face with entrepreneurs and talented, creative people from around the world and persuade them to locate to Michigan to work and start a business," said Michael Finney, president of MEDC, the state's marketing arm and lead advocate for business development, including fostering tourism, film production, and digital-media projects and overall economic growth...

"Our goal at 'South by Southwest' is to elevate Michigan in the minds of the preeminent players redefining the business prospects derived from the confluence of media, technology, creators and consumer trends," said Finney. "And, of course, the 'Pure Michigan' brand creates a positive impression about quality of life in our state."

More here

New Economy Initiative receives $33M in funding for new entrepreneurial, workforce programs

A new round of funding is set to go towards entrepreneurial and workforce re-training efforts in the Detroit area.

Excerpt:

"The New Economy Initiative's goal is to return greater Detroit to global prominence in innovation and entrepreneurship, and the effort's organizers said Monday it is moving closer to accomplishing what it set out to do, with the help of $33.25 million in new funding from 10 foundations.

The NEI, a project of the Community Foundation for Southeast Michigan, announced Monday that the funding will help support its efforts over the next three years, after awarding $76 million in grants in its first round of funding. That money helped fuel the work of some 35,000 entrepreneurs, who created more than 675 new companies and 8,000 new jobs in southeast Michigan, according to NEI organizers."

More here

Warren-based Warrior Sports to outfit Olympic men's hockey players

Warrior Sports is fast becoming athletic outfitter to the world's sports stars. Players from a dozen national teams at the Olympics will be facing off in the hockey rink with Warrior sticks, gloves, helmets and masks.

Excerpt:

"When the men's ice hockey competition begins at the Winter Olympics next week in Russia, nearly a hundred players — including  Detroit Red Wings  Henrik Zetterberg, playing for Sweden, and Jimmy Howard, playing for the United States — will be using equipment from Warren-based  Warrior Sports Inc....

The company — launched in founder David Morrow's  Princeton University  dorm room in 1992 as a manufacturer of handmade titanium lacrosse sticks — has grown into a retailer of equipment, footwear and apparel for lacrosse, soccer, ice hockey and general lifestyle wear...

...Warrior made its first major move into global branding in 2011 when it signed a six-year contract to provide uniforms — known as kits — for the  English Premier League  soccer club  Liverpool FCbeginning in 2012. Warrior replaced German sporting goods giant  Adidas AG."

More here

How do you build an innovative, entrepreneurial community?

Anchor institutions are good. A well-developed community of small startups with young entrepreneurs is also good. A healthy mix of both seems to be best. But the devil is the details.
 
Excerpt:
 
"The study essentially argues that there is no one-size-fits-all solution to creating an innovative tech economy. Though civic boosters love to tout single-solution policies — by focusing on attracting one major tech firm, or by bolstering their start-up ecology — a mix of both approaches may be far more effective and prudent."
 
Read the rest here.
 
 

Crowdfunding = More opportunities to invest locally

The Senate's recent passage of crowdfunding legislation opens up a whole new pool of potential funding for entrepreneurs, a vital component to the expansion of Michigan's economy.

Excerpt:

"HB 4996, a creative approach to economic development, will allow the sales of securities to an unlimited number of non-accredited investors, provided the issuer registers with the State of Michigan.   Any Michiganders who do not fit the federal definition of an accredited investor are given the opportunity to support their local entrepreneurs, existing small businesses, and real estate investments."

More here.

Michigan Shifting Gears program taking applications for job seekers looking to retool

The Michigan Shifting Gears program is seeking applicants for its three-month career transition program beginning on January 21. Sessions will take place in Ann Arbor and the Great Lakes Bay region. Registration for the Winter 2014 session is open now through  Friday, January 10. 

Excerpt:

"The program is designed to help experienced professionals, returning veterans, stay-at-home parents and others facing a career crossroads fine-tune their skills to fit the needs of small businesses and entrepreneurial start-ups...

Participants in Michigan Shifting Gears receive a professional career assessment and career coaching, attend eight days of workshops, participate in networking events, and take part in a three-day small business simulation.  Participants are paired with volunteer mentors from the entrepreneurial community who work one-on-one to review their resumes, provide career advice, and help with their career transition....

Michigan Shifting Gears has an impressive rate of success, with 51 percent of graduates landing new jobs within three months of completing the program. Sixty-five percent of graduates land positions within six months, and 84 percent find work within nine or more months...."

For more info and to learn about the prerequisites for registering, click here.
157 Entrepreneurship Articles | Page: | Show All
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