Michigan Small Businesses: Five Fast Facts

April 15, 2024

Delaney Sexton
Contributing Editor

Michigan Small Businesses: Five Fast Facts

There are 908,007 small businesses in Michigan which employ 1.9 million people.
28,740 small businesses opened between March 2021 and March 2022.
Small businesses added 135,429 jobs during that period.
Total reported new lending to businesses through loans of $1 million or less was $9.7 billion.
Reported new lending to businesses with revenues of $1 million or less was $2.7 billion.