Local Small Businesses Could Benefit From New State Plan
July 21, 2021
By Mike Kruzman / email@example.com
A new plan from Lansing would help support small businesses in Livingston County.
Governor Gretchen Whitmer this week kicked off the MI Small Business Summer tour in which she and her cabinet members will be visiting and recognizing small businesses that have shown resiliency through the pandemic. In addition to holding a series of small business summits and a Jobs and Economy Town Hall with Lt. Governor Garlin Gilchrist, Whitmer announced her new Economic Jumpstart Plan.
In it, $300-million would be put towards the Michigan Mainstreet Initiative. A new Restart Program will invest $100-million to help restaurants and other place-based businesses cover costs by providing grants up to $20,000 for mortgage, rent, taxes, payroll, and other operating expenses. A quarter of that money available will be set aside for small businesses with less than 9 employees. Separate funds would also be put aside for new businesses. The Small Business Support Network and Fund would invest $75-million in traditional commercial corridor and Main Street businesses, providing opportunities to start-ups. Finally, the Michigan Microenterprise Support Initiative will invest $125-million to provide grants for businesses that did not qualify or apply for other incentives, like the Payroll Protection Program.
To learn more and find resources for small businesses, visit the link below.