By John Bebow - June 27, 2008
Perhaps it's no coincidence that in the same week that GM stock sunk to its lowest price in more than 30 years, Michigan's small- and medium-sized businesses told Accident Fund they were bullish on their business futures:
Despite some dissatisfaction with the state's current economy, Michigan's small- to mid-sized business owners see a light on the horizon. Many are even making plans for moderate hiring, small wage increases and product additions through the next quarter.
According to the semi-annual Future Business Index, a study funded by Lansing-based Accident Fund Insurance Company, economic optimism is gaining strength for Michigan's small- and mid-sized businesses for the first time since the study commenced in 2006.
While 78 percent of business owners and managers expressed some concerns regarding the economy as it affects their businesses, some bright spots can be found. This is especially true in the outlook for pay increases, employee hiring, and introduction of new products and services.
Highlights of the study show that of those surveyed:
Twenty-four percent plan to increase employee wages in the next quarter, while none say they will seek wage concessions.
Nineteen percent will hire more employees in the next quarter, and another 69 percent say they’ll maintain their workforce at the current level; only 3 percent say they will definitely lay employees off.
Twenty-five percent plan to introduce a new product or service in the next quarter.
"The entrepreneurial spirit we have in Michigan is fantastic," says Chris Holman, small business advocate for the state of Michigan. "Each year, more and more people make the choice to work for themselves or join a start-up company, and that helps our state thrive. I've been working with small businesses for many years and continue to see this group expand. It’s very exciting, and good for the state and the mid-Michigan area."/em>
3 Comments
A couple years ago, i submitted an online proposal to the governor's office as an idea that would boost auto sales for the big3, lower our statewide gas and oil consumption, help middle class and poor people get reliable transportation to get to work and back, and remove the older beat up vehicles not being used as classic resto cars from the roads.
My idea was to establish a fund from whatever means necessary to create rebates for new or newer used car purchases getting over 30mpg avg, if you turn in a older beat up vehicle getting under some arbitrary avg mpg like 20. the value of the rebate not based on what you turn in, but based on what you buy up to a top $ amount.
This would have helped the big 3 in some ways. If the biggest challenge our state faces is the diminishing employment and sales of the big3, then why not do direct acts that could help that issue?
Here now shows other states doing something similar -
http://money.cnn.com/2008/06/30/news/economy/retire_cars/index.htm?postversion=2008063014
I received NO answer from the Govs office on my idea.
nice.
Steve,
Keep on keeping on until you received some answer is what I would encourage you to do in regards to not getting an answer back from the Governor’s office. Sometimes correspondences get lost, so I would not give up until you do get a response if you really feel strongly about your idea.
Here is how the Canadian Government is handling there similar program: http://www.greencarcongress.com/2007/03/canada_introduc.html
Wow, Thanks Boona, i looked at that website and I have to say, that I am amazed.
I thought up this idea a few years ago in response to the auto industry's woes. The impact on energy use and other benefits was a second tier set of benefits to helping the auto industry first, since that is Michigan's major issue.
All the other locations that are apparently doing the same type of thing i suggested to our state, are doing them solely for the benefit of the energy and environmental impacts. Isnt that ironic.
And its ironic that no one else in michigan found it to be a good enough idea to punch it through some channels for investigation, while we sit with the biggest Auto industry losses and peripheral problems from it and we languish instead of think outside the box.
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