Michigan fares well when it comes to small business assistance

Different states are taking different approaches to promoting and assisting small businesses. In Michigan, through the Michigan Small Business and Technology Center and the Kauffman Foundation, the training and retraining of laid-off workers seems to be filling a void.Excerpt: Last June, the Michigan Small Business and Technology Center began to train laid-off workers to start new ventures. So far, 527 people have taken the course, which the center offers in partnership with the Ewing Marion Kauffman Foundation. To date, 160 people in the Michigan program have introduced new business ventures, and more than 125 owners of existing businesses have enrolled in separate courses to bolster their chances of surviving. Another 1,000 would-be entrepreneurs are expected to complete the program this year. The unemployed workers, many laid off from the auto industry, come to the program with an idea for a small business and must search for capital on their own. The program, said a spokeswoman, Jennifer Deamud, “preps the company for a loan and makes connections for the owner.” Read the entire article here.