Michigan’s Small Businesses Receive Boost from State Funds
In a significant move to bolster Michigan’s entrepreneurial ecosystem, Governor Gretchen Whitmer has revealed that the Michigan Strategic Fund (MSF) Board has sanctioned nearly $11.3 million in state-allocated funds to advance the Small Business Support Hubs (SBSH) initiative by the Michigan Economic Development Corporation (MEDC).
“Across Michigan, small business owners and entrepreneurs step up every day to grow our economy and enrich our communities,” stated Governor Whitmer. “We’re proud to have their back with today’s investment, which will empower more entrepreneurs to create good-paying jobs and chase their dreams right here in Michigan. Since 2023, our Small Business Support Hubs have invested millions of dollars in thousands of businesses to help them grow and thrive. Let’s keep working together to build a bright future for Michigan small businesses.”
The SBSH initiative, which originated in 2023, has had a commendable track record, achieving numerous milestones such as assisting over 8,800 businesses, creating or retaining more than 5,000 jobs, and facilitating over 2,000 new business launches. Additionally, it has secured over $158 million in follow-on funding, provided over 750 direct grants, and invested more than $3.8 million directly into Michigan’s small enterprises.
The funds approved by the Board are derived from state-appropriated resources included in the fiscal year 2026 budget. “Michigan’s small businesses are the heart of our Make it in Michigan economic development strategy,” remarked Quentin Messer, Jr., CEO of the MEDC and Chair of the MSF Board. “This investment is rooted in supporting our People, providing pride of Place, and creating space for new and innovative Projects of all sizes.”
Approximately $8 million will be allocated for hub operations, programming, services, and regional ecosystem coordination. The remaining $3.3 million is earmarked for direct business assistance to qualified small enterprises. Awards to the hubs will be initially for one year, with potential extensions up to two additional years based on performance and available funds.
“Our Small Business Support Hubs have been a significant catalyst for increasing local, community-driven economic development and regional coordination for Michigan’s small businesses and entrepreneurs,” said Jay Williams, director of Small Business Services at the MEDC. “We are grateful for the Board’s support of this nationally recognized program and eager to see what Michigan’s small business and entrepreneurial communities bring forward.”
The application window is slated to open on April 1, 2026, and close on June 1, 2026. For further details, visit the SBSH website.
NOTE FROM THE MEDC: Investment and job numbers represent the commitment made by the business to the state of Michigan. Terms will be formalized in a performance-based project agreement, with funds disbursed as reimbursement based on eligible expenditures, and are subject to amendment or cancellation if the commitments are not met due to risks or uncertainties. The Michigan Economic Development Corporation provides a public annual report on agreements and their status to the state legislature.
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