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MICHIGAN
870,301
Small Businesses
1.8 million
Small Business Employees
99.6%
of Michigan Businesses
49.2%
of Michigan Employees
EMPLOYMENT
66,240
net new jobs
DIVERSITY
158,892
minority-owned
businesses
TRADE
13,114
small business
exporters
OVERALL MICHIGAN ECONOMY
•
In the third quarter of 2017, Michigan grew at an annual rate of 3.5%, which was faster than the overall US growth rate of
3.4%. Michigan’s 2016 growth rate of 2.2% was down from the 2015 rate of 2.9%. (Source: BEA)
•
In January 2018, the unemployment rate was 4.7%, down from 5.0% in January 2017. This was above the January 2018
national unemployment rate of 4.1%. (Source: CPS)
EMPLOYMENT
Figure 1: Michigan Employment by Business Size (Employees)
•
Michigan small businesses employed 1.8 million people, or
fewer than 20
20 to 99
100 to 499
more than 500
0
1M
2M
3M
2000 2005 2010 2015
49.2% of the private workforce, in 2015. (Source: SUSB)
•
Firms with fewer than 100 employees have the largest share
of small business employment. Figure 1 provides further
details on firms with employees. (Source: SUSB)
•
Private-sector employment increased 0.8% during the 12-
month period ending in January 2018. This was below the
increase of 1.4% during the prior 12-month period. (Source:
CPS)
•
The number of proprietors increased in 2016 by 2.4% rela-
tive to the previous year. (Source: BEA)
•
Small businesses created 66,240 net jobs in 2015. Firms
employing fewer than 20 employees experienced the largest
gains, adding 30,799 net jobs. The smallest gains were in
firms employing 20 to 99 employees, which added 16,020
net jobs. (Source: SUSB)
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date
government data to present a unique snapshot of small businesses. Small businesses are defined for this profile as firms employing fewer than 500
employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2015 Statistics of US
Businesses (SUSB), 2012 Survey of Business Owners (SBO), and 2015 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy 93 Michigan Small Business Profile, 2018
INCOME AND FINANCE
• The number of banks decreased by 8 between June 2016 and June 2017 to 100 banks. (Source: FDIC)
•
In 2016, 139,013 loans under $100,000 (valued at $2.1 billion) were issued by Michigan lending institutions reporting under
the Community Reinvestment Act. (Source: FFIEC)
•
The median income for individuals self-employed at their own incorporated businesses was $45,005 in 2016. For individuals
self-employed at their own unincorporated firms, this figure was $20,580. (Source: ACS)
Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of
the unincorporated self-employed.
EMPLOYER BUSINESS OWNER DEMOGRAPHICS
Figure 2: Michigan Employees per Business by Owner’s Demographic, 2015
Male
F
emale
Nonminor
ity
Minor
ity
Non
veteran
V
eteran
Some
other race
Nativ
e American-Alaskan
Hispanic
Ha
waiian-Pacific Islander
Asian
Afr
ican American
All
Firms
0 5 10 15
Figure 2 shows the average number of employees per employer business by owner’s demographic group according to the Annual Survey of Entrepreneurs
(ASE). Unshaded bars display US values; data were withheld because they do not meet Census Bureau publication standards or could disclose
information regarding individual businesses.
TURNOVER AMONG ESTABLISHMENTS WITH EMPLOYEES
Figure 3: Michigan Quarterly Startups and Exits
4,000
4,500
5,000
5,500
1995 2000 2005 2010 2015
startups exits
•
In the third quarter of 2016, 4,577 establishments started
up, generating 18,517 new jobs in Michigan. Startups are
counted when business establishments hire at least one
employee for the first time. (Source: BDM)
•
In the same period, 5,348 establishments exited resulting
in 18,778 jobs lost. Exits occur when establishments go
from having at least one employee to having none, and then
remain closed for at least one year. (Source: BDM)
•
Figure 3 displays quarterly startups and exits from 1992 to
2016. Each series is smoothed across multiple quarters to
highlight long-run trends. (Source: BDM)
The BLS data covers only business establishments with employees. BLS
refers to startups as births and exits as deaths. These terms are distinct
from the BLS openings and closings categories. Openings include sea-
sonal re-openings and closings include seasonal shutterings. Quarterly
startup and exit values may not align with Figure 3 due to smoothing.
SBA Office of Advocacy 94 Michigan Small Business Profile, 2018
INTERNATIONAL TRADE
•
A total of 14,680 companies exported goods from Michigan in 2015. Of these, 13,114, or 89.3%, were small firms; they
generated 23.9% of Michigan’s $49.7 billion in total exports. (Source: ITA)
SMALL BUSINESS EMPLOYMENT BY INDUSTRY AND COUNTY
Table 1: Michigan Employment by Industry, 2015
Industry
Health Care and Social Assistance
Manufacturing
Accommodation and Food Services
Retail Trade
Other Services (except Public Administration)
Professional, Scientific, and Technical Services
Administrative, Support, and Waste Management
Construction
Wholesale Trade
Finance and Insurance
Transportation and Warehousing
Arts, Entertainment, and Recreation
Educational Services
Real Estate and Rental and Leasing
Information
Management of Companies and Enterprises
Agriculture, Forestry, and Fishing and Hunting
Mining, Quarrying, and Oil and Gas Extraction
Utilities
Industries not classified
Total
Small Business
Employment
271,807
263,022
234,179
190,741
142,923
141,340
120,145
115,691
103,619
57,976
45,900
34,783
34,737
34,143
21,793
12,714
3,596
2,662
1,585
922
1,834,278
Total Private
Employment
601,090
566,793
371,152
465,941
157,538
263,238
334,014
132,230
176,798
151,233
112,260
46,486
72,957
51,755
69,379
120,315
3,803
5,298
22,078
922
3,725,280
Small Business
Employment Share
45.2
46.4
63.1
40.9
90.7
53.7
36.0
87.5
58.6
38.3
40.9
74.8
47.6
66.0
31.4
10.6
94.6
50.2
7.2
100.0
49.2
Figure 4: Michigan Small Business Employment by County, 2015
Small Business
Employment (%)
40
to 53
53 to 60
60
to 71
71
to 92
SBA Office of Advocacy 95 Michigan Small Business Profile, 2018
SMALL BUSINESSES BY INDUSTRY
Table 2: Michigan Small Businesses by Industry and Firm Size, 2015
Industry
1-499 Employees
1-20 Employees Nonemployer
Total Small Firms
Firms
Retail Trade 21,960 19,950 58,890 80,850
Other Services (except Public Administration) 21,199 19,775 123,070 144,269
Health Care and Social Assistance 19,566 16,939 62,763 82,329
Professional, Scientific, and Technical Services 19,309 17,693 85,129 104,438
Construction 18,333 17,149 77,236 95,569
Accommodation and Food Services 14,933 11,301 9,937 24,870
Manufacturing 10,818 7,678 12,214 23,032
Administrative, Support, and Waste Management 9,713 8,424 57,855 67,568
Wholesale Trade 8,407 6,792 11,157 19,564
Finance and Insurance 6,499 5,881 17,895 24,394
Real Estate and Rental and Leasing 5,797 5,390 77,039 82,836
Transportation and Warehousing 5,001 4,339 33,515 38,516
Arts, Entertainment, and Recreation 3,134 2,701 34,797 37,931
Information 2,105 1,818 8,301 10,406
Educational Services 2,043 1,629 22,608 24,651
Agriculture, Forestry, and Fishing and Hunting 566 527 5,670 6,236
Mining, Quarrying, and Oil and Gas Extraction 278 229 1,866 2,144
Utilities 82 63 312 394
Total 170,047 149,192 700,254 870,301
Figure 4 and Tables 1 and 2 display data from the 2015 SUSB. Table 2 includes additional data from the 2015 Nonemployer Statistics (NES). Data for
counties shown in white in Figure 4 were withheld by the Census Bureau because they do not meet publication standards or could disclose information
regarding individual businesses.
REFERENCES
The Small Business Profiles, source data, and methodology are available at https://go.usa.gov/xQT4w.
ASE Annual Survey of Entrepreneurs, US Census Bureau
BEA Bureau of Economic Analysis, US Department of Commerce
BDM Business Employment Dynamics, BLS
BLS Bureau of Labor Statistics, US Department of Labor
CPS Current Population Survey, BLS
FDIC Call Reports, Federal Deposit Insurance Corporation
FFIEC Federal Financial Institutions Examination Council
ITA International Trade Administration, US Department of Commerce
NES Nonemployer Statistics, US Census Bureau
SBO Survey of Business Owners, US Census Bureau
SUSB Statistics of US Businesses, US Census Bureau
SBA Office of Advocacy 96 Michigan Small Business Profile, 2018
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