Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies. To share a business or nonprofit story, please send us a message.
Survey: Small Business Owners Show Signs of Confidence Along with Concerns
KeyBank’s 2024 Small Business Survey found that 65 percent of small business owners feel confident they could fund their operating expenses for one month with their cash reserves, if an unexpected need arose.
Still, 37 percent of business owners anticipate that inflation will slightly increase their operating costs and 27 percent expect a significant increase in operating costs in the next 12 months. The top challenges small business owners anticipate this year are fluctuating sales/revenue (35 percent), delayed payments from clients/customers (29 percent) and high overhead costs (28 percent).
Despite these concerns, small business owners say they are well-adjusted and taking precautionary measures to protect their businesses — and the employees and communities they serve. They are already implementing cost-cutting measures (32 percent), increasing cash reserves (30 percent) and exploring alternative financing options (22 percent). As one of the top indicators of financial resilience in the US, their actions could be the first signal of an improving economic environment.
“Running a business is not an easy task, and when coupled with uncertain economic conditions, rampant inflation and high interest rates, small business owners are faced with ambiguity,” says Mike Walters, president of business banking at KeyBank. “Their resilience is a testament to years of weathering financial uncertainty, and with their confidence remaining strong they’re able to power through the last leg of inflation and keep themselves on track for economic growth.”
The survey included 1,983 U.S. respondents who own or operate a small to medium-size business with an annual gross revenue of less than $10 million. It was completed in March 2024.
McLaren Flint Begins Final Phase of $61M Expansion, Enhancement
McLaren Flint, part of statewide McLaren Health Care, has broken ground on the final aspect of its $61 million multipronged expansion and enhancement project, a phase that will update the face of the longstanding hospital.
Construction has begun to enhance and completely overhaul the main entrance into McLaren Flint, which features a new canopy and design for improved traffic flow.
The launch of this construction follows expansion projects currently underway to increase the capacity and capabilities of the McLaren Proton Therapy Center and Karmanos Cancer Institute at McLaren Flint, respectively, projects representing an overall investment of $61 million into the hospital campus.
“Our undertaking of these projects to grow and enhance our services and facilities are truly an investment in Flint and all the patients we are privileged to serve throughout the region,” says Chris Candela, president and CEO of McLaren Flint. “It has been our pledge to ensure all of our patients have access to high-quality health care and a first-class experience, and this latest project is a symbol of our long-term commitment to that pledge to the communities we serve.”
Following months of planning, the project began to be realized with last year’s construction launch to expand the McLaren Proton Center with the addition of two upright treatment units from Leo Cancer Care to nearly double the center’s current care capacity.
Once underway, main entrance construction is expected to be completed in seven to eight months. Visitors and patients will be directed to a temporary main entrance accessible through the hospital’s emergency department adjacent to Beecher Road. Signage will safely direct traffic flow, and valet parking will be available seven days a week for a nominal fee.
U.S. Small Business Administration Recognizes Top Michigan Small Business Lenders
The U.S. Small Business Administration’s (SBA) Michigan District Office presented awards to the top SBA lenders in Michigan during the annual SBA Michigan Lender Awards,, which took place at the Federal Reserve Bank of Chicago’s Detroit Branch.
“SBA’s lending partners have worked hard to get much needed funding into the hands of Michigan’s small businesses that are the economic engine in our state. We congratulate all the winners of this year’s awards,” says Laketa Henderson, director of SBA’s Michigan District. “I am proud that we provided access to capital that many Michigan businesses might otherwise not have access without the SBA-backed lenders.”
This year’s honorees include:
- Huntington National Bank, Michigan Lender of the Year
- The State Bank, Community Lender of the Year
- CEED Lending, Microlender of the Year
- ChoiceOne Bank, 504 Third Party Lender of the Year
- Michigan Certified Development Co., Certified Development Company of the Year
- CDC Small Business Finance Corp., Community Advantage Lender of the Year
- Huntington National Bank, Diversity Lender of the Year
- The State Bank, Community Diversity Lender of the Year
- Huntington National Bank, Rural Lender of the Year
- 4Front Credit Union, Credit Union Lender of the Year
Top 10 Lenders of the Year:
- Chase Bank,
- Fifth Third Bank
- Comerica Bank
- First Internet Bank of Indiana
- Huntington National Bank
- KeyBank
- Old National Bank
- Oxford Bank
- PNC Bank
- The State Bank
District Director’s Award went to Mark Williams, president of Michigan Certified Development Corp.
Shinola Hotel in Detroit Hosting Five Year Anniversary Dinner at San Morello
The Shinola Hotel in downtown Detroit is celebrating its fifth anniversary by hosting a special dinner on May 14 at 6:30 p.m. in the hotel’s San Morello’s private dining room.
Dinner will feature a special five-course dinner by Chef Andrew Carmellini, co-founder and culinary director of NoHo Hospitality, which owns and operates more than 15 restaurants, bars, and food stands. He will be working with Cory Barberio, executive chef and managing partner of the Shinola Hotel, who has worked under Carmellinis for more than a decade.
The menu will feature a selection of “all-time greatest hits” from its past menu repertoire. Guests will also be invited to stay at the Shinola Hotel with an exclusive offer upon booking. Rooms are subject to availability. Tickets are $250 and can be purchased here.
Annual Rose Hill Center Flower Sale and Fair in Holly Set for May 11
Rose Hill Center (5130 Rose Hill Blvd.) in Holly will host its annual on-site Flower Sale and Fair from 10 a.m.-3 p.m. May 11.
The free public event, which takes place during Mental Health Awareness Month, features Rose Hill Center’s Rose Hill roses, as well as annuals, flower planters, hanging baskets, and vegetables. The event also will include a bake sale, hot food, petting farm, face painting, safety expo, and hayrides.
Rose Hill Center residents and staff grow and tend the flowers as part of its mental health programming. The event raises awareness about mental illness, combating stigma, and demonstrating the availability of treatment and the possibility of recovery.
For more information, visit rosehillcenter.org or call 248-634-5530.
Ann Arbor Unveils New Green Business Challenge
The city of Ann Arbor, in partnership with Ann Arbor SPARK, has unveiled the Ann Arbor Green Business Challenge (A2 GBC), an initiative intended to “revolutionize sustainability efforts in the local business community.”
Designed to celebrate and champion businesses committed to eco-friendly practices, the A2 GBC is more than just a certification program — it’s a movement to create a greener, more sustainable future. By participating in the challenge, businesses have the opportunity to showcase their dedication to environmental responsibility while earning recognition and cash
A launch event will take place at 8:30 a.m. May 7 at the Ann Arbor SPARK offices to share information with interested businesses. Speakers will include Rodger Bowser of Zingerman’s Delicatessen, Yahang Zhang of RRS, and Heidi Poscher of 4th Purpose Energy. Registration is available here.
Businesses participating in the A2 GBC will create sustainability across seven key categories: energy, circular economy, water, resilience, supply chain, education, and mobility. Participants earn points that correspond to different certification levels, from reducing energy consumption to promoting upcycling; every step towards sustainability counts.
At the end of the 4.5-month challenge period, all participating businesses will be recognized. Top performers receive cash rewards for their outstanding achievements and innovative sustainability initiatives.
Consumers Energy Awards $50K for Winners of the Put Your Town on the Map Competition
The Consumers Energy Foundation in Jackson announced the winners of the Put Your Town on the Map pitch competition, with three Michigan communities winning a total of $50,000 to help complete projects that will strengthen economic development and grow their region.
The winners were Imlay City in first place with a $25,000 grant, Rogers City in second with $15,000, and St. Johns in third with $10,000 for their respective projects.
“The passion displayed by these participants underscores how meaningful funding like this can be to truly grow and strengthen our small communities,” says Angela Thompkins, chief diversity officer and vice president of community affairs for Consumers Energy. “We look forward to seeing how the projects will benefit their region and enhance placemaking within their communities.”
Dodge Restarts Horsepower Locator, Last Call Open for 2024 Dodge Durango SRT 392 AlcHEMI
The Dodge brand of Stellantis in Auburn Hills is rebooting its Dodge Horsepower Locator to help customers lock down a 2024 Dodge Durango SRT 392 AlcHEMI Last Call model, now available at select Dodge dealerships.
The 2024 Dodge Durango SRT 392 AlcHEMI is the first in a series of Last Call models that will commemorate the final calendar year of V-8 HEMI engine production for the Dodge Durango. The Durango SRT 392 AlcHEMI adds premium content, including yellow SRT Brembo brakes, honeycomb-textured dual exterior stripes with yellow accents, black “392” vinyl fender decals with yellow accents, 20-by-10-inch lightweight SRT wheels and much more, available at a U.S. manufacturer’s suggested retail price (MSRP) of $89,795, excluding a $1,595 destination fee.
The interactive Dodge Horsepower Locator tool helps customers identify a nearby dealer with their Durango Last Call model. Customers will be able to refine searches by vehicle color and zip code radius, and the list of available vehicles will be refreshed weekly as dealer allocation is updated. Dodge Durango SRT 392 AlcHEMI models are allocated to Dodge dealers based on dealer sales performance.
Dealer allocation information on all Durango Last Call models will be available through the Dodge Horsepower Locator.
SunStream USA Poised to Acquire Cannabis Assets Including Ann Arbor’s Greenpeak
SunStream USA, a subsidiary of SNDL Inc. in Canada, says it intends to proceed with the acquisition of equity positions in U.S. cannabis assets including Greenpeak Industries Inc. in Ann Arbor.
In addition to Greenpeak, which operates as Skymint, SunStream is acquiring equity positions in
Surterra Holdings Inc., which does business in Florida, Massachusetts, Nevada, and Texas.
Ric Flair Drip Launches Cannabis Brand in Michigan in Partnership with Goldkine
Legendary wrestling star Ric Flair’s cannabis brand, Ric Flair Drip, has joined forces with one of Michigan’s leading cannabis brands, Goldkine, to launch its premium suite of cannabis products across the state.
The tag team partnership brings together Flair with the expertise of Goldkine to deliver a “unique and high-quality cannabis experience” to Michigan consumers.
The initial product lineup includes a range of options to cater to diverse preferences, featuring premium flower, and infused pre-rolls, and can be found at all locations of the following dispensaries statewide: Puff, Consume, Exclusive, and Joyology. The first wave of Ric Flair Drip products already is on dispensary shelves, with additional offerings, including edibles, set to debut later in the year.
Newfi Expands EquityChoice Shared Appreciation Mortgage Offering to Michigan
California-based Newfi Lending has announced its expansion into multiple states, including Michigan.
EquityChoice is a second lien, shared appreciation mortgage giving homeowners immediate access to cash without having to liquidate portfolio investments, dip into savings, or experience the pressure of added monthly payments.
Key features of EquityChoice include:
- Access to a portion of home equity at a below-market, fixed interest rate, while sharing in a portion of the home’s future appreciation.
- Ability to keep low-interest, primary mortgages intact.
- Immediate access to capital without reducing monthly cash flow.
- Standard mortgage loan terms and lender obligations, such as a capped interest amount, that provide built-in safeguards.
- EquityChoice is available to borrowers through Newfi’s Wholesale, Correspondent, and Direct-to-Consumer channels.
For more information about EquityChoice visit newfi.com/equitychoice.
Shyft Group in Novi Secures FedEx Order for 150 Blue Arc EV Trucks
The Shyft Group Inc. in Novi has landed a purchase order with FedEx for an initial order of 150 Blue Arc EV Trucks to be integrated into the FedEx pickup and delivery fleet in the U.S.
The order reflects the shared commitment of both organizations to reduce carbon emissions and reduce air pollution through the adoption of commercial-grade electric vehicles.
FedEx tested the vehicle in real-life conditions, using it on last-mile delivery routes in Memphis. During the pilot, the Blue Arc truck operated extended 8-10 hour routes under challenging conditions, including temperatures ranging from 95 to 105 degrees Fahrenheit, marking a “significant” milestone in the vehicle’s readiness for widespread commercial use.
“As we work toward the phased electrification of our entire global pickup and delivery fleet by 2040, FedEx is eager to incorporate new and efficient electric vehicle models that meet the demands of our diverse network,” says Pat Donlon, vice president of global vehicles at FedEx Express. “We look forward to bringing the Blue Arc into our growing portfolio of electric vehicles in service around the world.”
Artist-designed Miniature Golf Course at Cranbrook Art Museum Returns for Third Season
Cranbrook Art Museum in Bloomfield Hills is bringing back its artist-designed miniature golf course, Cranbrook on the Green, for the 2024 summer season.
Sink a putt at one of 11 custom-designed, art-inspired holes on the grounds of Cranbrook Art Museum next to Triton Pools. All golfers also receive free admission to Cranbrook Art Museum’s galleries. On Thursday nights, the course and museum are open until 8 p.m., and beer and wine are served until 7:30 p.m. This year, the museum also will have its FIKA cafè, open during all gallery hours offering coffee, drinks, and snacks.
This year, advance tickets to golf can be purchased online or on site. Reservations are not required. The course will be open early in the season for weekend play.
Events include free play for moms in honor of Mother’s Day weekend and National Mini-Golf Day on May 11. Dads and guardians can play for free Father’s Day weekend, June 15–16.
For more information, visit here.
Fifth Third Employees to Provide Millions of Meals for People Facing Hunger
Fifth Third Bank’s nearly 20,000 employees will celebrate “Fifth Third Day XXXIII” today by volunteering and donating to fight food insecurity in the communities where they live and work.
Today, “Fifth Third Day,” the Bank will provide millions of meals across its footprint through a combination of volunteerism, donations, and fundraising efforts.
In eastern Michigan, volunteer efforts and support took place at the Salvation Army-Detroit Harbor Light from 9 a.m.-noon.
MIRA’s Inaugural Lifetime Achievement Award goes to Ronnie Jamil
For the first time in its 114-year history, MIRA is presenting a member Ronnie Jamil with a Lifetime Achievement Award May 9 at Shenandoah Country Club in West Bloomfield Township.
Jamil, former owner of Bella Vino in Farmington Hills, is a longtime member of the association and former chairman of the organization.
