MI-SBTDC grant will help small businesses

The Michigan Small Business and Technology  Development Center received a federal grant for $1.6 million from the Small Business Association to continue its efforts in helping small businesses across the state. State Director Carol Lopucki said the two-year grant will be used for several initiatives including:
• Increasing client consultation by 13,500 hours in two years
• Increasing capital formation by $90 million in two years
• Creating 1,800 new jobs in two years
• Providing increased service to Michigan Manufacturers in market diversification
• Providing increased service to Michigan Manufacturers in strategic planning
• Strengthening Manufacturing Extension Partnerships (MEP), U.S. Export Assistance Centers, Michigan Manufacturer Association partnerships

“The grant will be used to strengthen our work with second-stage companies needing assistance in accessing capital, developing strategic plans and determining market diversification tactics,” said Lopucki. “We are very excited to be able to serve more second-stage companies by helping them grow and create jobs.”

Lopucki said they will also hire nine new finance and strategy specialists to work with existing teams, whose focus is to serve second stage business.