It’s been well documented the number of small businesses which has shuttered over the last year due to COVID-19 has been significant. The minority-owned businesses closure rate (41%) was approximately 2.4 times the general population’s (17%) closure rate. Clearly, this has potentially impacted entrepreneur’s finances. As small business owners grapple with finances and strategic […]
Everyone is ready to emerge from COVID-19, particularly Detroiters who have been among the nation’s hardest hit by the pandemic. The immediate and heightened need for products, services and employment is overwhelming, but the reality is that a growing number of the city’s small businesses may not be there to provide it. According to published […]
2020 is reminding me of 1967. As a youngster in ’67, I can vividly recall images of parts of a major American city, Detroit, being devastated due to a civil disturbance. Once vibrant streets sat empty for years in the aftermath of the ’67 civil riots on hot, July days. Empty and hallowed out store […]
Mayor Mike Duggan made a commitment to not only make Detroit a small business destination, but ensure long-term entrepreneurial success. The mayor’s programs, in conjunction with the Detroit Economic Growth Corporation, such as Motor City Match and the Motor City Re-Store, are examples of providing grants focused on supporting and investing in businesses long term. […]
More than a million. Since 1950, approximately 1.2 million people have left Detroit — a number equivalent to the population of Dallas. And the exodus continues, albeit slowing. According to the most recent U.S. Census Bureau data, the city is home to approximately 673,000 people and is barely hanging on in the top 25. While the […]
What does it take to succeed as a business in Detroit? How do newcomers become integrated with long-time companies? How do you grow if you’ve stalled or have an idea to expand? Those are the questions that small-business owners like Regina Gaines of the House of Pure Vin asks herself on the regular. They are […]
Detroit is hot! Yes, when it comes to entrepreneurship, it’s on a roll with new businesses sprouting up across the city. According to a recently published report, nearly two dozen restaurants, stores and service businesses have opened in Detroit’s Midtown neighborhood over the past year, and at least a dozen more are on the way […]