2024 – Future of Business in Michigan According to the Michigan Future Business Index Michigan business owners are optimistic about Michigan s

 

Future of Business in Michigan

 

According to the Michigan Future Business Index, Michigan business owners are optimistic about Michigan’s future business climate and their perceptions have improved over the past six months in several categories. (Downloadable report here: http://www.michiganbusinessnetwork.com/thank-you/mfbi-reports-download?submissionGuid=2d7cfc51-c49e-4f36-b6be-392ba1f18030) Yet there have also been national reports that portray Michigan business climate in a less favorable light.

 

For this paper, select a Michigan city (or neighborhood within a large city) that you believe has potential for future business growth. Then investigate the city business environment and prepare a report that highlights opportunities and incentives for future business in that city. Some categories you might consider are listed below.

 

The final paper should be 5 to 10 pages (not counting title page or references) in APA format.

 

Possible Considerations for Future Business Growth

Infrastructure –

·         Transportation networks – transit, product distribution, supply acquisition

·         Financial networks – investors (local? U.S.? Global?)

·         City maintenance, cost of city services

·         Communication

 

Business Environment –

·         Types of businesses (Finance, manufacturing, service, cultural); Mix of business

·         Any specific industry that might be entrenched there

·         Are new businesses/industries considering location there

·         Information Technology support services

·         Politics

·         Business tax environment

 

Labor Markets –

·         Are labor resources readily available? If so, what are the skill sets?

·         Education and training – are networks in place?

 

Social Environment – Can consider this from both labor resources and customer viewpoints.

·         Residences? Restaurants? Shopping? Cultural events? Medical care?