Displaying items tagged: small business
Whitmer budget proposal would add small business tax, repeal pension tax
Business advocates in Lansing panned Gov. Gretchen Whitmer’s proposal to implement what she called “tax parity” by having small businesses pay the same 6-percent state income tax now levied on corporations in Michigan.
Muskegon marine transporter invests more than $40 million to expand operations
A West Michigan marine transportation firm is significantly increasing its freight capacity in response to higher demand from a key customer. Port City Barge Inc. of Muskegon last month took delivery of the Commander, a 495-foot by 72-foot freight barge that it plans to use to haul cement for St. Marys Cement US LLC.
Small business buyers find M&A targets plentiful
Matt Emery felt ready to move on from the automotive industry after 15 years, so last fall he began looking around for a business to buy. After considering a contract manufacturer, machine shops, an HVAC business and others, Emery found the “perfect fit” in Think Chromatic LLC, a Comstock Park-based small company that does 3-D rendering and animation.
Construction equipment supplier McCann Industries expands to Marne facility
MARNE — McCann Industries Inc. will expand to Michigan with a new facility currently under construction in Marne. The equipment and construction supply sales company hopes to open the new location in September, said James Maioho, Michigan branch manager for McCann.
With latest raise, BarFly targets $7M in funding, plans 3-4 new HopCat locations
GRAND RAPIDS — The company that owns and operates the HopCat craft beer bar chain has secured another $6 million in capital it will use to open three to four more locations in 2019 and 2020, MiBiz has learned. In confirming BarFly Ventures LLC’s latest round of fundraising, founder and owner Mark Sellers told MiBiz approximately $5 million of the funding came from one new investor while $1 million came from Sellers himself. The company is still in the process of raising another $1 million from existing investors to reach its $7 million goal.
Q&A: J.D. Collins, State director, Small Business Development Center
J.D. Collins became state director of the Grand Rapids-based Small Business Development Center in mid-December. He spent years at larger organizations — Fifth Third Bank, Amway, Spectrum Health — working as a technologist and innovator “before I really found my niche.” Collins also ran his own consulting firm, Collins Innovations LLC, and was chief innovation officer at a heavy equipment technology startup.
Small business owners see benefits from pass-through deduction, flat tax rate
The recent Tax Cuts and Jobs Act purported to simplify tax structures, rates and exemptions, but accountants say small businesses face plenty of nuances depending on their size, structure and profits. “One thing I have noticed, people thought they were going to be left with simpler tax laws and to some extent, some have,” said Sally Steffes, CPA and one of the partners at H&S Companies PC. “There are many variables to contend with.”
Small businesses join call for civil forfeiture reform
The state chapter of a small business advocacy group is among the supporters of a bipartisan bill package introduced this month to reform the way law enforcement seizes property from people suspected of crimes.
Q&A: Mandi Brower, Quality Car Wash
Mandi Brower’s first job with the family business was working in college as a cashier at the Quality Car Wash store on Eighth Street in Holland.
Alternative lender positions black-owned GR firm for growth
GRAND RAPIDS — When realized it needed to add vehicles to its fleet to grow the business, founder Rich Flowers ran into some roadblocks familiar to many African American and minority entrepreneurs.
Q&A: Justin Winslow, Michigan Restaurant & Lodging Association
The merger of the Michigan Restaurant Association and Check In Michigan, formerly known as the Michigan Lodging & Tourism Association, creates one of the largest trade groups advocating for business in Lansing.
EPS Security acquires Owosso firm
GRAND RAPIDS — EPS Security has made its second acquisition of 2018.
Niche law firm relocates HQ to downtown GR
GRAND RAPIDS — A niche law firm plans to relocate its Michigan headquarters to downtown, MiBiz has learned.
Startups find a place in West Michigan, despite cultural challenges
From the cannabis industry to beverage manufacturers to tech-focused firms, West Michigan continues to see an uptick in startups.
State extends funding to pair of capital funds
The Michigan Strategic Fund steered additional money into two capital funds that support high-tech startups and growing small businesses in the state.
The Invest Michigan Pre-Seed Fund II received $3 million to invest in startups through loans or equity. Grow Michigan LLC will receive $9.6 million for a second mezzanine-style fund that will provide loans to growing small businesses.
Grand Rapids, Start Garden seek to repair relationship
A recent kerfuffle between Grand Rapids economic development officials and executives at Start Garden Inc. highlights the challenges cities face when they try to encourage more entrepreneurial investments.
Ka-Zoo Angels offers funding options to SW Michigan entrepreneurs
KALAMAZOO — The Kalamazoo affiliate of Grand Angels easily exceeded expectations after launching more than a year ago.
Report highlights immigrants’ role in Michigan’s small biz economy
Immigrants play an outsized role in Michigan’s small business economy, according to a new research from the Michigan League for Public Policy.
Blue Cross Blue Shield proposes lower rates for small businesses
Blue Cross Blue Shield of Michigan credits closer ties with doctors and hospitals to drive efficiency and quality improvements with leading to lower rates for small businesses.