Business & Entrepreneurship

Growing minority-owned businesses can transform our economy.

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In Context: Regional EconomyIncome & Wealth BuildingAccess to Quality EmploymentBusiness & EntrepreneurshipEducationHealthNeighborhoods & Housing

Overview: Detroit experienced a significant increase in the availability of capital for small businesses.

Beyond wealth creation for entrepreneurs and job creation for residents, small businesses have the opportunity to transform Detroit’s neighborhoods. Business retention and creation is an important step toward the revitalization of desirable middle-class neighborhoods, where residents have access to a range of services and amenities within a short distance of their homes.

Note: Data updates are not available for indicators ‘Entrepreneurship rates per capita’ and ‘Average business size,’ pending results of the U.S. Census Bureau’s 2022 American Business Survey.

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Entrepreneurship rates per capita
Entrepreneurship rates per capitaAverage business sizeCapital access for small businesses