After the largest city bankruptcy in U.S. history in 2013, Detroit has made an economic resurgence. This is the time for aspiring entrepreneurs to excel in their small businesses as the Motor City is repossessing its rightful spot for being known as a powerhouse. Not only is Detroit known for its innovations, but it’s also known for being the best place to do business because of the many current resources Detroit has to offer for entrepreneurship. According to the Detroit Regional Chamber database, “The Detroit region remains one of the fastest growing in the nation as the state continues to reinvent itself in global economy. In many key economic categories, including gross domestic product (GDP), private sector job growth and per capita income, the region is outperforming the national average while unemployment rates have decreased below pre-recession levels.” In other words, a smart move for any new small business owner would be to begin investing in Detroit.
Detroit continues to have a positive growing reputation because of its thriving economic opportunities. Here are three websites that give entrepreneurs the upper hand in order to start their small business in the prosperous city Detroit.
Motor City Match
When it comes to federal and foundation funding for matching grants, small businesses or construction loans, MotorCityMatch.com is the site to go to. According to the website, they are “helping businesses go from idea to open.” This website not only connects business owners, but also building owners to “Detroit’s quality real estate opportunities, providing them with funding and tools to fuel the city’s entrepreneurial revolution.” This is a great site for small business owners to access if they need financial assistance in going from conception to inception.
DetroitBizGrid.com is an incredibly helpful site that effectively turns your small business plans to reality. Some of the services that BizGrid offers include co-working space, funding, real estate assistance and business planning and strategy. To access BizGrid you can use an interactive directory or a physical infographic, if preferred. According to the website, the directory “helps you chart personalized course to discover the organizations that can best assist you,” and the infographic “enables you to find names and contact information for assistance organizations based on your business stage and needs.” All of the information provided are Detroit-focused organizations, and with the easy step-by-step instructions, small business owners will get the help they need in order to get their business running.
By accessing the Michigan Economic Development Corporation (MEDC) website Buildinstitute.org, small business owners can join what they call “Build” classes to join forces with other like-minded entrepreneurs. Classes are offered every season in Detroit and according to their history they “have expanded beyond the core curriculum to include Build Social, a class solely on social entrepreneurship.” What this site does is empower determined people “to launch ideas and grow businesses by providing access to education, resources and a supportive engaged community.” This is a great website to learn more about how to start a small business in Detroit before taking the initiative to do so.
This article was written by Ashley Thompson for CBS Small Business Pulse.