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Small Business

Small Business. The United States’ Small Business Economy is The Worlds’ Second Largest Economy!. USA Small Business is BIG BUSINESS. Small Businesses generated over 50% of the total US Economy of $5.2 Trillion

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Small Business

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  1. Small Business The United States’ Small Business Economy is The Worlds’ Second Largest Economy!

  2. USA Small Business is BIG BUSINESS • Small Businesses generated over 50% of the total US Economy of $5.2 Trillion • That puts Small Business in the US ahead of Japans’ $3.8 trillion dollar economy! (2004)

  3. Michigan Small Business • Small Business is defined as having less than 500 employees and less that $1mm gross sales • There are 814,657 Small Businesses in Michigan. • Small Business with employees total 187,373. • Small Business without employees total 627,284 • These are called Non-Employers Business (sole proprietors) representing 77% of all business in Michigan. • IF YOU ARE INTESTED IN ENTRENEURSHIP… HOW CAN YOU GET STARTED…?

  4. The MI-SBTDC is a partner program of the U.S. Small Business Administration.

  5. U.S. Small Business Administration • Michigan Small Business & Technology Development Centers work in coordination with federal, state and local private-sector resources thru cooperative agreement with the SBA to meet the needs of small businesses. • SBA’s national network includes 900 Small Business Development Centers (like SBTDC). • And, 3 other SBA Resource Partners include: 400 SCORE chapters, 110 Women's Business Centers (WBC), 8 Veterans Business Outreach Centers. More atwww.sba.gov/services and at www.misbtdc.org

  6. MI-SBTDC MISSION: • To strengthen Michigan’s economic well-being and to seed entrepreneurship by providing counseling, market research, business education and advocacy for new ventures, existing small businesses and innovative technology based companies.

  7. MI-SBTDC Overview Counseling – One-to-one meetings with certified business consultants are available (no fee) Market Research – Seidman Information Services, at GVSU provides market research for new ventures, existing small businesses to large corporations Training – Training programs are offered statewide and are available at the local level in a variety of formats (low cost) Advocacy – MI-SBTDC network is a strong grassroots advocate for small businesses

  8. Non-Employer Businesses are Micro-Businesses(or…very small businesses) • Non-employer businesses are single business owners such as realtors, lawyers, independent contractors, artisans, crafters, and a variety of home-based businesses. • Micro-Business 1-5 employees who needs less than $35,000 in start up capital, with the average Micro-Loan being $7,000.

  9. Very small business doesn’t mean little impact…Micro-Business creates jobs! • On average, microenterprises are responsible for 900,000 new jobs created per year! • Micro-Business represents 24% of all employment in Manistee County, and 16% of all employment in Michigan!

  10. What does Micro-Business Look Like? • They start small and create employment for the owner, sometimes employing family. • Some grow into large enterprises employing other members of the community. • Microenterprises include a variety of businesses such as, specialty foods, jewelry, arts and crafts, gifts, clothing and textiles, computer technology, child care, professional services and environmental products. • They are nimble enough to reach a niche market and are prime candidates to use internet marketing to grow their businesses.

  11. Many downtown storefronts started as Micro-Businesses.

  12. Do it Right! From the Beginning!Your Top 5 Do’s • Do more-than-adequate planning up front. • Do learn and practice financial discipline. • Do ensure sufficient cash reserves to sustain growth. • Do learn and apply consistent and accurate record-keeping. • Do a Business Plan and Cash Flows.

  13. If you plan right from the beginning, you will join these newly successful and growing small, Artisan-Based businesses in Northwest Michigan…

  14. “Artisan-foods”the newest micro business trend in Northwest MI! • Grocer’s Daughter Handmade Chocolates • Light of Day Organics Teas • Creative Art Cookie Bouquets • Small-batch artisan, fresh-baked Breads • Food for Thought; value-added goodies • Higher Grounds Trading Company Coffees • Cream Cup Dairy in Manistee County

  15. Grocer’s Daughter Chocolateirs

  16. Deb’s Creative Art Cookies

  17. For more information, Contact your local Michigan Small Biz Network !Deborah Nale, BA, CBC, (231)723-4325

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