LSJ Question: May 30, 2010

Will Michigan benefit more from economic development efforts that convince large employers to relocate here, or from efforts that encourage entrepreneurs to start new businesses?

Old Dogs Not Young Pups

While support and encouragement should always be given to Michigan entrepreneurs, it remains a fact that a majority of new businesses fail within the first five years of ownership. In our current “non-recession,” stability is key. Bringing already established “big” businesses to the area will not only take people from the unemployment line but also adds more revenue to the state, both via taxes and enticing people to freely spend their discretionary funds.