American ingenuity and innovation are back in businesses as entrepreneurship is booming, locally and nationwide! According to the World Economic Forum, total U.S. business applications doubled in 2020 compared to recent years. In 2021 alone, a record-breaking 5.4 million new business applications were filed, and nearly as many as 5.1 million were filed in 2022. Statewide numbers are even better.
According to the data from the U.S. Census Bureau, Business Formation Statistics, and analysis by the U.S. Chamber of Commerce, new business applications filed in Michigan (2022 from 2019) is up 1,772.5%!
That’s nearly ten times higher than anywhere else in the United States!
Closer to home, the Small Business Support program is up and running at full speed. This program is a partnership between Bay Future, Inc. and the Small Business Development Center at Saginaw Valley State University, supported by American Rescue Plan Act funds and Bay County.
Bay County business owners have been working with Michelle Judd, our Bay County, dedicated, SBDC consultant, focused on Bay County small businesses needing assistance with, recovering, restarting, growing, short-term issues, long-term planning and advising, among other issues. Michelle offers over 30 years of local business experience in multiple industries. She is also backed by a statewide network of business consultants and trained specialists who can share their expertise and co-consult at all stages, from start-up to growth to buying and selling a business.
That includes Bay County entrepreneurs looking to start a business, as well.
