It’s beneficial for local organizations to support each other economically, even businesses that otherwise compete. After all, making a neighborhood stronger financially provides positives for everyone and draws in more cash to the area. Here are four ways that you and other organizations can work together to bolster your local economy. 1. Create Neighborhood Fund … Continued
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 … Continued
There are many benefits that come with community engagement, especially in our area of Metro Detroit. According to Better Accounting, 14.6% of small business owners in the U.S. are people of color, represented by 1.6 million Asian owners, 1.9 million black business owners, and 2.3 million owners of Hispanic heritage. Community engagement seeks to reach … Continued
Every city and most other local units of government create master plans and enact zoning laws that determine which areas of land can be used in which ways. Some might be for residential, agricultural, or commercial purposes. With nearly 1.4 million new businesses formed in 2021, which is about 400,000 more than in 2019, according … Continued
When you’re starting a small business, you might be tempted to go it alone at first. After all, you’re focused on saving as much money as you can. That might work in the short term as you’re starting out, but it’s not sustainable, especially once your business starts to take off. Let’s take a closer … Continued
Does the thought of your new business failing make you break out into a sweat? According to Investopedia, only 25% of new businesses can survive up to 15 years or more. Do you want to be part of that 25%? Here are some things that you can do to maintain success in the long term. … Continued
If you have already taken the first step to start your own business, then you may be wondering how you can steadily grow your POC-owned business. Fortunately, there are many options available to you that can help your business to take off. Keep reading to learn some helpful advice. Become Certified as a Minority-Owned Business … Continued
Small businesses have a huge effect on the local economy and the economic development of an area. Today, many small businesses have faced unprecedented challenges, and yet there has been a huge increase in the number of new enterprise applications. According to the U.S. White House, in 2021 alone almost 5.4 million new companies were … Continued
As the economy continues to boom, more and more entrepreneurs are opening small businesses. According to Forbes, the formation of new companies nationwide intending to hire employees increased to a historic high in 2021. There were nearly 1.4 million applications by September and over 400,000 more than at the same point in 2019. Detroit remains … Continued
If you’re wondering if small businesses have an effect on their local economies, the answer is an unequivocal yes. Plus, their impact is a positive one. According to LinkedIn, the fact that money from small companies tends to stay in their local economies is a main benefit. Let’s take a closer look at a few … Continued