When it comes to success in Detroit, there’s a lot to know. Every small business has its challenges, and those located in our area are no exception. According to Oberlo, there were 33.2 million small businesses in the US in 2022, comprising an estimated 99.9% of all US businesses. Here are a few tips to consider if you’re a small business owner who wants to succeed in Detroit.
Seek Out Available Grants
Both the state of Michigan and the City of Detroit have numerous grants available for small business owners. There are also many on the federal level as well. Working with a consultant can help you find relevant grants and assist with the application process. The process is also helpful because the paperwork required often prompts business owners to think about their goals and aspirations in more concrete ways.
Hire the Right People
A company is only as good as its employees. By having a clear road map for your business’s future growth, you’ll be able to attract quality people. Job descriptions should be clear and concise, as should company expectations. By having an open and supportive company culture, you’ll be able to attract and retain the best of the best. Don’t underestimate the importance of building a strong team around you, no matter the current size of your business. This will help you build a strong foundation that will be able to support future growth.
Every business experiences setbacks. Even if you feel like you’re making little progress, it’s important to just keep going. Forward progress can be measured in a variety of different ways, and progress is very often non-linear. Having a strong support network within the Detroit small business community can help you weather the ups and downs that come with growing your business. It’s easy to get discouraged, but the more concrete your plans, the easier it is to stick to them. Having a clear idea of what you want your business to become will help you stay at it even on the toughest days.
Success in Detroit is challenging, but not impossible. This is especially true when you’ve got an economic development company on your side. Our consulting services can help you grow your business and attain the success you want. Contact us today to schedule an introductory consultation. Activate Detroit looks forward to helping your business plant the seeds of long-term success!