November 26th has been designated Michigan’s Small Business Saturday, which supports local businesses throughout the year

LANSING, Mich. (WLUC) – Gov. Gretchen Whitmer today designated November 26 as Michigan’s Small Business Saturday and is urging Michiganders to shop locally this Saturday and throughout the year to support Michigan’s small businesses.

“Small businesses are the backbone of our economy,” Governor Whitmer said. “Supporting local small businesses and entrepreneurs creates high-paying jobs and supports more vibrant communities in every region of our state. On Small Business Saturday, let’s celebrate Michigan’s small businesses and their invaluable contributions to our communities by shopping locally throughout the holiday season and year-round. I will continue to work with everyone to ensure our small businesses have the resources they need to thrive as we continue to grow Michigan’s economy and build a brighter future together.”

Michigan has 902,000 small businesses with 1.9 million small business employees, accounting for 48.3 percent of Michigan workers. More than 99 percent of Michigan businesses are defined as small businesses with fewer than 500 employees.

A report released in May showed that small businesses with fewer than 50 employees added nearly 170,000 jobs in the first three quarters of 2021 alone, the fastest start of small business job growth in 23 years, according to the Michigan Bureau of Labor Market Information. The state also saw an explosion of entrepreneurs and business owners starting new ventures in 2021, with 150,000 new small business applications to form a business, up 59 percent from 2019.

Since October 2020, MEDC has provided more than $73.7 million in funding to small businesses in all 83 counties, helped start more than 560 new businesses and helped small businesses raise more than $4.3 billion generate new revenue.

According to the US Small Business Administration, small businesses make up more than 98 percent of Michigan businesses and employ half of Michigan’s workers. For every $100 spent in a local business, about $68 stays in the local economy, enabling business and job growth.

Additionally, one in five jobs in Michigan is in retail, according to the Michigan Retailers Association. In 2021, Michigan residents remitted $30.3 billion to out-of-state retailers. If just one in 10 out-of-state purchases, equivalent to about $3 billion, were moved to local stores, Michigan would reap $2.2 billion in increased economic activity and create 16,000 new jobs.

“Choosing to shop nearby strengthens communities, keeps money in Michigan and gives small businesses a chance to thrive,” said William J. Hallan, president and CEO of the Michigan Retailers Association. “If you are looking for the perfect gift for your loved one this year, visit Main Street to help grow our local economy and support your local businesses.”

Each year, the Michigan Economic Development Corporation launches the “Support Local” campaign to remind Michiganrs of the importance of supporting small businesses during the holiday season and especially during the winter season. Support Local’s landing page at michigan.org/supportlocal provides resources to help residents shop and eat locally, including links to vibrant downtown areas filled with local shops specializing in decor, fashion, pet toys, hardware and are more specialized. For craft drink lovers, Michigan’s beer, wine and spirits are available statewide at brick and mortar stores and local grocery stores. Across Michigan, independent bookstores are brimming with page-turning stories and gifts. To recharge, shoppers can visit one of Michigan’s coffee shops and grab a bag of beans to brew at home. Or gift a trip and create memories at destinations across the state.

“As we look for ways to create more opportunity for all Michiganans, we remain committed to supporting our small businesses, their workers and the local communities in every corner of the state,” said Quentin L. Messer, Jr. , CEO of MEDC The Saturday after Thanksgiving is traditionally one of the busiest days of the holiday season, and by shopping locally we can help Michigan workers, businesses and communities thrive this season and every day.”

MEDC is committed to supporting the success of the small businesses that form the backbone of the state’s economy. Earlier this year, MEDC announced a new Small Business Services and Business Solutions team as part of an increased focus on supporting small businesses in Michigan. This team was formed to play an important role in helping existing small and micro businesses grow in the state while improving economic prosperity for all Michiganans through greater opportunities for small business ownership and access to capital.

“Every day is a day to celebrate and promote Michigan’s local businesses. No business is small for those who risk everything, and that’s why we remain focused on creating paths and opportunities for our entrepreneurs to achieve their vision,” said Messer. “With our new small business team, we will continue to set the stage for Michigan’s economic growth for generations to come.”

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