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162 Entrepreneurship Articles | Page: | Show All

Michigan is "Most Improved State" in national pro-business states report

Michigan is gaining a business-friendly reputation, an important aspect of attracting entrepreneurs and investment from other states and around the globe.

Excerpt:

"The American Economic Development Institute and Pollina Corporate Real Estate, Inc. today named Michigan the Most Improved State for 2014 in their annual Top 10 Pro-Business States report. Overall, Michigan ranked no. 3 among the nation’s top 10 most populous states and no. 2 among the eight Great Lakes states...

The state’s improved rank pushed it ahead of other top population states, including Georgia (ranked 22), Ohio (23), Texas (27), New York (30), Pennsylvania (39), Illinois (49) and California (50). Only N. Carolina and Florida finished ahead of Michigan at no. 11 and 15, respectively.

Michigan advanced 21 spots in this year’s Pro-Business States report, up to no. 18 from no. 39 in 2012."

More here

U.S. Treasury Dept. says Michigan leads nation in optimizing federal funds for small business growth

Second only to California in the amount of federal funds received via the State Small Business Credit Act, Michigan is parlaying this cash infusion into industry diversification and job creation at a commendable rate.

Excerpt: 

"Since 2011, Michigan has distributed $79.4 million from the State Small Business Credit Initiative (SSBCI), a federal program established a year earlier in the aftermath of the Great Recession and modeled after a state of Michigan program to bolster the collateral position of manufacturing companies. Federal funds dispersed to small business and local lenders have been used to finance more than $420 million in new private investment and create 4,600 jobs in Michigan, according to MEDC estimates."

More here.

Contests become launchpads for Detroit startups

In the last few years, entrepreneurs are increasingly making pitch and business plan competitions part of their game plans. And more than ever, nationally televised contests are filming in Detroit. 

Excerpt:

"A number of competitions mirroring the style of hit TV show "Shark Tank" have sprung up in Detroit,  where a downtown start-up tech scene  has taken root...

Mark Kiel's company, which developed software to interpret data about gene mutations in DNA sequencing, was founded two months ago, but he has already raised $47,000 in capital.Kiel, 37, won his money from MiQuest, the Michigan Collegiate Innovation Prize and Greenlight Best Overall Pitch.

Ann Arbor-based Genomenon has won three business-pitch competitions — allowing Kiel to bypass the traditional route of hitting up family and friends or wooing an angel from a venture capital firm."

More here.

Rockbridge Growth Equity fills Gas Station TV with new investment

In an e-world, consumers can now get their fill of TV at the gas station, all brought to them by Birmingham-based Gas Station TV.

Excerpt:

"Rockbridge Growth Equity pumped new capital into Gas Station TV, a company that provides pretty much exactly what you would think -television at gas pumps.

Consumers have likely seen Gas Station TV network without even realizing it. It’s currently in 42 states, and at more than 2,600 stations, featuring content from AccuWeather, Bloomberg TV, ESPN and CNN."

More here.

Failure is in the eyes of the beholder at Failure: Lab events

In a refreshing twist on the arguably cliched "failure breeds success" stories told at conferences around the country, at Failure: Lab events, entrepreneur presenters leave it up to the audience to make what it will of their failure stories.

Excerpt:

An entrepreneur told a Detroit audience about how he had failed as a father, husband and businessman.

In the crowd sat a riveted Jordan O'Neil. At least until the speaker intoned in the inevitable "but," followed by his tale of second-chance success.

"He basically told a story that grabbed the full attention of the 800 people in the crowd because it was so different," O'Neil said. "What if he had dropped the mic and walked off the stage — just left it there?"

Thus was born the idea for Failure: Lab. He gathered three friends and developed what would become an event featuring six speakers sharing 10-minute failures — straight with no "lessons learned" chaser. The audience is left to glean the meaning and encouraged to share its thoughts on social media as well as notecards that are collected afterward.

It's working, at least in O'Neil's home state of Michigan. During the past year, Failure: Lab has come to theaters in Grand Rapids, East Lansing and Detroit, and its return Friday to Grand Rapids is sold out. Now, his team believes stumbling self-help for the 21st century can succeed beyond its comfy confines — they're planning shows in New Orleans, Mexico City, Brooklyn, New York, and possibly Baghdad."

More here.

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."

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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."

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162 Entrepreneurship Articles | Page: | Show All
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