This post was originally published on Michigan Chronicle
By Sherri Kolade
One shouldn’t need a reason to buy Black, it should be a way of life.
Such is the thought process for several Black business owners and individuals who hang their hat on the idea of supporting within to keep the Black dollar circulating longer in local neighborhoods, mom-and-pop shops, and places that need it most in the city.
The Michigan Economic Development Corporation (MEDC), which provides business assistance services and capital programs for business attraction and acceleration, recognizes the importance of buying Black by ever-highlighting Michigan’s Black-owned businesses’ growth opportunities, initiatives and successes.
Last May, Governor Gretchen Whitmer joined MEDC to announce that Michigan was approved for up to $236,990,950 in State Small Business Credit Initiative (SSBCI) funding from the U.S. Department of the Treasury.
Headquartered at Grand Valley State University and representing a long-term collaboration between the Small Business Administration and the State of Michigan, the Small Business Development Center (SBDC) operates 11 regional offices and more than 20 satellite offices. The SBDC provides entrepreneurs and business owners with convenient access to consulting and training throughout Michigan at low or no cost.
Quentin L. Messer Jr., MEDC CEO, told the Michigan Chronicle previously that success is vital to Michigan’s small businesses, especially those in Detroit.
“We understand the importance that Detroit plays psychologically in the nation’s view — how they see Michigan,” Messer said. “You’re not going to be successful in Detroit without having a strong working relationship with the Detroit Economic Growth Corporation (DEGC).”