Axios Live: Small businesses are "on the upswing" in Michigan's Lansing, local leader says
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Tony Willis in conversation with Erica Pandey. Photo credits: Doug Milligan on behalf of Axios
LANSING, Mich. — The last five years "have been a whirlwind" for small businesses, but things are looking up, local economic developer Tony Willis said at an Axios event last week.
Why it matters: The COVID-19 pandemic and the economic uncertainty of the last few years have strained small-business owners, but many are finding their footing as their communities offer financial and entrepreneurial support.
- Axios' Erica Pandey spoke with Willis, chief equity development officer at Lansing Economic Area Partnership; Lansing Mayor Andy Schor; and Rep. Tim Walberg (R-Mich.) at the event, sponsored by Mastercard.
What they're saying: "Thankfully, the state of small business in the Lansing region is on the upswing," Willis said. "It is strong, it is positive, there are resources available."
- "And overall, I think the morale and spirit of the entrepreneur and the small business owner is starting to see hope again, because at one point it was pretty bleak, to be honest," he said.
Flashback: The city of Lansing did a lot to help small businesses, in particular, get back on their feet during the pandemic, Schor said.
- The city created small-business grants and established a fund to help founders put their ideas into action, the mayor added.
- "I think we adjusted along with the times, and that helped out with the businesses, and we worked with the businesses to make sure that they could serve the most people, and it's been pretty successful," he said.
The big picture: Walberg pointed out the wide range of businesses in the Michigan congressional district he represents.
- "It's made up of entrepreneurs, highly agricultural, and if you think of a real small-business entrepreneur, it's a farmer," Walberg said. "And we have the diversity going from soup to nuts."
Content from the sponsored segment:
In a View From the Top conversation, Mike Kresse, Mastercard's executive vice president of commercial and new payment flows, said small businesses are the "backbone of every town we walk into, every state we walk into, and of our nation."
- "Small businesses form 99.9% of the businesses in our economy … account for close to half the jobs in our economy … [and] account for 60% of all new jobs in our economy," he said.
