With a population of 9.9 million, the state of Michigan is the 10th most populous state and the 11th largest state by landmass in the US. The state of Michigan has a low cost of living and affordable business income tax rates. Manufacturing is one of Michigan’s most important industries. According to the Bureau of Economic Analysis, manufacturing industries account for around 16% of Michigan’s GDP. Michigan has a long history of entrepreneurship and engineering, and there is a big concentration of engineering expertise and industrial infrastructure within a short distance. In fact, Michigan boasts the nation’s highest concentration of engineers. This makes it appealing to entrepreneurs in the manufacturing industry as well as many other industries.

Small business stats:

• 1.9 Million Small business individuals
• 48.3% of New York’s workforce are Small Businesses
• 22% of Michigan’s $53.4 billion worth of exports generated by small businesses
• 91.689 Small Business Optimism Index

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