Northwest Wayne News

Mayor Mike Duggan and Detroit Means Business (DMB) revealed a significant boost to Detroit's small business sector with a $3.4 million grant from the Michigan Economic Development Corporation (MEDC). This funding will establish 25 Small Business Support Hubs across the city, aimed at providing essential resources for entrepreneurs. The hubs, a collaborative effort by the Detroit Economic Growth Corporation, DEGC-affiliate Detroit Means Business, and local organizations, will offer coaching, training, networking opportunities, and tailored support based on the specific needs of each community.

DMB President Dr. Marlo Rencher highlighted the importance of the hubs in empowering residents to realize their business aspirations, stating, "These hubs will equip residents to turn their dreams into reality by giving them the tailored coaching, training, networking and support they need right in their communities." The initiative, supported by a diverse group of community partners, aims to strengthen neighborhoods by assisting small businesses in establishing and expanding their presence.

Councilmember Gabriela Santiago-Romero emphasized the significance of the initiative in removing barriers to access and opportunity for entrepreneurs, stating, "The launch of this new collaborative initiative is exciting because it aims to meet entrepreneurs and aspiring business owners where they are, in their community." The hubs will not only provide essential resources but also foster collaboration, mentorship, and networking opportunities for business owners.

The Small Business Support Hubs will be strategically located in various Detroit districts, with the first hub set to open at the Northwest Activity Center in May. These hubs will offer a range of services, including access to the DMB Business Experience Center, a platform equipped with AI technology to provide customized solutions for Detroit entrepreneurs. The hubs will also feature a business resource navigator developed by the New Economy Initiative to assist users in creating personalized business profiles and accessing relevant resources.

The initiative, made possible by the $3.4 million grant from MEDC, underscores Michigan's commitment to supporting small businesses and fostering inclusive economic growth. Amy Rencher, MEDC Senior Vice President of Small Business Services, highlighted the importance of collaboration with trusted partners like Detroit Means Business to expand and enhance resources for entrepreneurs in the region. The Small Business Support Hubs program aims to raise awareness of available resources and support Detroit's diverse small business community.

The partnership between Detroit Means Business and local organizations, including BUILD Institute, ProsperUs, Metro Detroit Black Business Alliance, Highland Park Community Kitchen, Milestone Growth Capital, and Black Leaders Detroit, signifies a collective effort to empower small business owners, particularly those from marginalized communities. The collaboration aims to provide essential resources and support to entrepreneurs, ensuring their success and contributing to economic growth in Detroit.

The establishment of the Small Business Support Hubs is a significant step towards bolstering Detroit's entrepreneurial ecosystem and supporting the growth of small businesses in the city. This collaborative effort, part of a statewide initiative by the Michigan Economic Development Corporation, will play a crucial role in fostering inclusive economic growth and providing vital support to Detroit's small business community.