Detroit Featured in Report on Best Practices for Small Businesses

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Detroit is among a dozen cities highlighted in a National League of Cities’ report citing local governments for making small business development a priority and for creating  ecosystems that support small business growth.

The report makes note of the Detroit area’s efforts to connect small businesses to information and resources, specifically via BizGrid, launched by the Detroit Business Support Network in 2013. The resource, available as both an infographic and online directory, features more than 50 Detroit-focused organizations offering services that include business planning and strategy, real estate assistance, funding, and co-working space.

“(The report) shows that local leaders are in a unique position to create a small business ecosystem that connects entrepreneurs with city resources, including funding opportunities, streamlined regulations, and technical assistance,” says Chris Coleman, president of the National League of Cities. “Cities across the country understand that for small businesses to be successful in the long-term, it is critical that they have the support of communities and local leaders.”

According to Coleman, small businesses employed 55 percent of the nation’s workforce and accounted for 63 percent of the new jobs created between mid-2009 and 2012. “Small businesses are an integral part of every community, and are responsible for roughly half the nation’s economic output,” he says.

Other cities profiled in the Big Ideas for Small Businesses include Chicago, Philadelphia, San Antonio, San Diego, San Francisco, and Seattle. Example initiatives include the creation of incubator spaces to accelerate small business expansion, microlending, crowdsourcing, and streamlining regulations and inspections.

To read the full report, which concludes that cities must reorganize their resources to be business-friendly and provide owners with access to new sources of capital, click here.

To access BizGrid, click here.

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